Suspense accounts

A suspense account is a special account that serves as a holding place for unmatched payments. Unmatched payments are posted to the suspense account as overpayments until they can be researched and either transferred to the correct account or resolved.

Because they are posted to a suspense account, unmatched payments can be reflected in the general ledger.

To create a suspense account, you must first create an account type to use for suspense accounts. You can designate one account type to use for suspense accounts by clicking the Use for Suspense Accounts link when creating or editing the account type. We recommend that you make the account type for suspense accounts identity-based, and that you select the Sundry attribute.

You can only designate one account type for suspense accounts. The Use for Suspense Accounts is not displayed if a suspense account type already exists.

You can use any account number format for the suspense account. We recommend that you define an account number format with two segments: a string like "SUSPENSE" and a single digit counter starting with 1. This allows the creation of a suspense account with account number SUSPENSE1. Only one suspense account is needed.

From Access Control, you should revoke most access items for the suspense account type. Leave only these access items selected:

Global Update
Log
Manage Account

After you create your suspense account, you can use the Move legacy unmatched payments to this account link on the Maintenance tab of the Manage Account page to post any existing unmatched payments to the new account.

Add an alert that explains the purpose of the suspense account, and use the Assign Responsibility link to assign the account as needed. Then click the Do Not Allow Arrangements and Suspend from Billing links.