suspense account help!!!

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susanharvey1961@aol.com
susanharvey1961@aol.com Registered Posts: 6 New contributor 🐸
in General discussion
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

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  • crispy
    crispy Registered Posts: 466 Dedicated contributor 🦉
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    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
    susanharvey1961@aol.com Registered Posts: 6 New contributor 🐸
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    suspense account

    thanks for that great it now works:001_smile:

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