Please help! Journals and Suspense accounts!

Bambi12Bambi12 Just JoinedPosts: 1Registered
Hi Everyone!

I have my exam coming up in June and I really starting to panic about journals and suspense accounts. I understand why they are used but is there an easy way to know when to debit or credit each account? I've tried the whole debit gain and credit loss thing but it's making me more confused! :001_unsure:
I would really appreciate any advice or tips.



  • A-VicA-Vic Expertise Guaranteed Posts: 6,970Registered
    Hi Bambi with journals remember

    Debit will be increasing, credit will be decreasing.

    try this link

    hope it helps

  • lynn26lynn26 Feels At Home Posts: 42Registered
    journals and suspense account

    hi A vic

    please can you tell me how to get to interactive i see quite a few people giving links to it but how do you get into it if there no link i dont seem to be able to find it unless someone puts link on here

    many thanks

  • mallymally New Member Posts: 14Registered
    An increase in an asset (Increase in cash)
    Decrease in liability (reduction of overdraft)
    Decrease in income (sales return)

    An increase in income (sales)
    An increase in a liability (Overdraft)
    Decrease in asset (Decrease cash)

    The use of journals is v important and popular in exams. It is crucial that you understand each and every transaction in order to maintain accurate accounts.
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