Suspense Account

The Suspense Account allows credits to be entered where the Contact/Property is unknown. For example, if a rent transaction appears in your bank account but the payee hasn't included a reference to indicate who it is from.

The credits will continue to appear in this screen until:

• A Contact/Property is assigned

• They are deleted

Suspense Account transactions will appear on the Bank Reconciliation screen.

Adding a credit to the Suspense Account

1. Add a credit to the Suspense Account via the Financial tab and Suspense Account.

2. From the Menu button click New.

3. Select the Payment Method it's been received by.

4. Enter the Amount

5. Optionally store additional information in the Notes field.

6. Click Save

When a Bank Reconciliation is performed and this transaction is included it will show with a Contact of Suspense Account.

Once the transaction has been included on a Bank Reconciliation, it cannot be deleted. Received date, Payment Method and Amount fields will be disabled if the suspense account transaction is on a Bank Reconciliation.

View the total transactions in the Suspense Account it can be seen on the Account Overview (via the Financial tab and Account Overview). Clicking the View button next to the total will produce a Transaction List report.

Removing a credit from the Suspense Account

Once you have established whom the credit relates to remove it by the following process

1. Open the Suspense Account via the Financial tab and Suspense Account.

2. Select the credit.

3. Under the Assignment tab specify the Contact and Property it relates to using the drop-down arrows.