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What will happen If I am not giveing the Suspense accout
while defineing the Set of Books in GL?

Answers were Sorted based on User's Feedback



What will happen If I am not giveing the Suspense accout while defineing the Set of Books in GL?..

Answer / kranthioracle

Nothing happens if u dont enable suspence account in
journal region,
when u create a journal with wrong amounts the system will
post but it show an error#6 in posting status as suspence
unbalance.

so when u enable the suspence account,even though u post
the system will correct the balance and ost with an error.

rent 5000
suspence 1000
to cash 6000.

depending on the nature of account suspence will be
adjusting.

Is This Answer Correct ?    4 Yes 0 No

What will happen If I am not giveing the Suspense accout while defineing the Set of Books in GL?..

Answer / askvenki

IF YOU ENTER JOURNAL
CASH A/C DR 10,000
TO RENT A/C CR 8000
IF YOU DONOT ENABLE SUSPENCEA/C THE A/C IS NOT
AUTOMATICALLY CREATED AND IT IS NOT POSTED

IT IS IN ENABLE STATE THIS IS POSTED AND EXCESS AMT IS
CREDITED TO SUSPENCE A/C

Is This Answer Correct ?    1 Yes 0 No

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