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jacob b

Transactions hitting a suspense account

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Posted By

I have a transaction hitting a suspense account. As far as I know when there is maybe a posting error sage will automatically post an amount to a suspense account? We dont post to a suspense account for anything.  

A check written out of one of our companies(company 1)  is accounted for correctly in the its bank ledger and expense account. But I have a positive debit amount  in the the company 1 suspense account,  And a negative credit in another companies (company 2) suspense account. Both the same amount.  Im pretty much lost how these get to the suspense account in first place, and why this transaction is in company 2 suspense account, when it was an entirely different companies transaction.

Any help would be much appreciated!

Jacob 

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    Jacob -

    Sage300CRE has a retrieval heirarchy to build which account gets retrieved when transactions are created.  As a general rule, the suspense accounts get hit when there is incorrect setup.  Since you mention Company 1 and 2, I would suggest reviewing your inter-company accounting settings in the application of origin.  Since you mention check written, I assume AP.  Most likely an invoice expensed to 1 company was paid with another companies checking account.  If you reconcile CM to GL in both companies, you will probably find the reconciliation to be off by this transactions amount.

    Do some investigating and post your results as it will dictate how error correction is performed.

    Cheers,

    John McLagan
    Independent Senior Consultant
    Johnny on the Spot

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  • 0
    SUGGESTED

    Jacob -

    Sage300CRE has a retrieval heirarchy to build which account gets retrieved when transactions are created.  As a general rule, the suspense accounts get hit when there is incorrect setup.  Since you mention Company 1 and 2, I would suggest reviewing your inter-company accounting settings in the application of origin.  Since you mention check written, I assume AP.  Most likely an invoice expensed to 1 company was paid with another companies checking account.  If you reconcile CM to GL in both companies, you will probably find the reconciliation to be off by this transactions amount.

    Do some investigating and post your results as it will dictate how error correction is performed.

    Cheers,

    John McLagan
    Independent Senior Consultant
    Johnny on the Spot

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