Accounting - Set Suspense Account- Required Account
A Year End Suspense account required account used for making the offsetting entry for the Close Year. It is used when performing the GL Year-End Close to keep the General Ledger in balance when you are retaining the previous year’s transaction history. A community's suspense account can now be set to any valid expense account.
If you haven't added your Year End Suspense Account to your Chart of Accounts, follow these instructions. Add an general ledger account range in TOPS [One] GL
This guide will give you step-by-step instructions on how to add a Year End Suspense account.
Step By Step
1. Click Portfolio then Communities. Select a community
2. Under Related Links, select Accounting Setup
3. Under Required Accounts, add an account.
You can either search the account number, or name.
You can also click the folder icon to show a list of the accounts, and you can select one from there
4.Once you've made your selection, click Save
If successful, You will see Success! at the bottom of the screen.