18/08/2026
🧹 Bookkeeping Tip: Don't Let Suspense Accounts Become a Dumping Ground
One of the last things I check before handing a client's file over to their accountant is the Suspense Account.
Think of it as the "I'll figure it out later" account.
Sometimes a transaction ends up there because:
A bank feed didn't match correctly.
A payment couldn't be identified.
An import created an unknown entry.
A journal didn't balance properly.
By year end, it's easy for a suspense account to contain hundreds—or even thousands—of dollars that shouldn't be there.
âś… Before sending your file to your accountant:
Review the Suspense Account balance.
Investigate every transaction.
Reallocate each item to the correct account where possible.
Aim for a nil balance.
Your accountant will thank you, and you'll likely save them time (and potentially reduce your accounting bill).
đź’ˇ Pro Tip: If your Suspense Account isn't zero, ask yourself:
"Do I actually know what this money relates to?"
If the answer is no, it's worth investigating before year end.
