Suspense Receipts appear on your daily reporting. This article will explain what suspense receipts are and how they come to be.
The concept of suspense receipts is all to do with accounts having a credit balance.
The figures are an accumulation of movements of credit balances for that period, there is no actual suspense account as such.
For Example: If an account has a deposit posted and has a credit balance we allocate this to suspense as there is no account code to allocate it to, so this would be a positive figure in suspense.
When the booking is checked in the tariff gets created, the amount comes out of suspense as a negative and a positive is allocated against the account code of the tariff.
Another example would be where a permanent tenant pays in advance $2000 and their rent gets created weekly for $200.
Suspense will initially be $2000 and as each rent is created it will be -$200 till the account reaches a zero balance.
On any given day you will potentially have positives and negatives against suspense receipts.
The total of suspense for the month on the cash report should equal the movement of credit balances on the debtors ledger for the month.
At any given time if you run a debtors ledger, the credit total is what you are holding in suspense as of that date.