suspense account help!!!

susanharvey1961@aol.com

hi if anyone can help clear my suspense account it would be great.
i have a debit balance on the suspense account of £1,060.
i need to clear the suspense account and have been given possible errors.
a/ the net coloumn of the sales day book has been undercast by £1,200
b/ credit purchases of £1,231 had been correctly debited to the purchase account, but had been credited to the purchase ledger control account as £2,131, any vat implications are to be ignored,
c/ a payment to a creditor of £680 had been credited to both the purchaes ledger control account and the bank account.
thanks sue level 3 student

crispy

Hello,

Journals to clear the suspense Account: -

Dr Suspense 1,200
Cr Sales 1,200
Being undercast of SDB

Dr PLCA 900
Cr Suspense 900
Being correction of credit purchase posting

Dr PLCA 1,360
Cr Supsense 1,360
Being correction of P/L payment

Job Done :001_smile:

susanharvey1961@aol.com

suspense account

thanks for that great it now works:001_smile: