Trial Balance

Question

Feb 15, 2009, 11:51 PM

New Member

Join Date: Feb 2009

Posts: 1

Trial Balance

why is the trial balance having credit side as an expenses? I have to create suspense account to balance off....please help

Answers

Feb 16, 2009, 02:24 AM	#2

ROLCAM Accounting Expert Join Date: Dec 2005 Location: sydney australia Posts: 1,001	These emanate from refunds received from expenses. You do not need to create suspense accounts to deal with them. What you should do is net them against the debits that are shown as expenses. Comments on this post ajijah agrees: im still doing the reconcialation now and there are few entries taken in as accruals but the the expenses been directed refund via debtors.

Similar Sponsors

Thread Tools

Search this Thread

Bookmarks



At Ask Me Help Desk you can ask questions in any topic and have them answered for free by our experts. To ask questions or participate in answering them you must register for a free account. By registering you will be able to: Get free answers from experts in any of our 300+ topics. Accept money for answers that you provide. Communicate privately with other members (PM). See fewer ads. Sign Up!