What Is A Suspense Account, Why Is It Opened & How Is It Closed? Xero accounting
MHT July 19, 2023Until they withdraw, the remittance stays in a suspense account, earning the financial institute or the BB enabler float/interest on that money. When customer withdrawal is completed, the money moves from the suspense account to the account of the agent who facilitated the cash withdrawal. Regularly review the items in a suspense account, with the […]