As I am getting to grips (successfully!) with the foibles of a suspense account, I see that a sales invoice which was recorded as paid and then recorded as refunded (as a customer refund) appears in the suspense account. I was under the impression that a suspense account dealt with transactions which hadn’t been fully finalised. Now in this case, it wasn’t a partial refund and there are no straggling amounts left hanging on the transaction. As it happens, it may as well have never taken place! However, it did and so it was recorded to its correct transactional conclusion. I am guessing there is a valid reason why it appears in the suspense account, but I don’t have the accounting knowledge to understand why.
Is it the payment that’s showing in the suspense account?
Need more info the answer.
Might it be that the refund has now made the invoice outstanding again?
This is what the entry looks like in the suspense account:
The ‘Payment from new PayPal sale’ is what the sale invoice is logged as and the other transaction is from the live PayPal feed.
I’ve rechecked the invoice in the sales and it is now showing as a ‘Credit’ which it must have changed to after the refund process.
From your screen shot it appears the suspense account balances so the result should be zero.
It doesn’t matter whether some software remove suspense entries or others add items to balance it, all that matters is whether the resulting balance is zero or not. And from the screenshot you supplied it would suggest that it is. Because there’s both a credit and debit for the same amount.
Aha…now that makes sense. Now I’ve looked at it again, the suspense account balance for the period in question actually doesn’t include the £303 figure. My confusion arose because that particular entry was visible, but I hadn’t checked if it was actually part of the figure on the actual total! Thanks for that, my learning spree continues…
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