Can you stop the suspense account from appearing on the P&L in Quickfile?
Hello @aos
The suspense account is where any of the double entry is entered from your accounts.
For example
- Any untagged bank items (until you tag them)
- Opening balances, they should all net off once they are all entered.
Yeah, I presume it’s a legacy thing as a tool to see what hasn’t been allocated yet. Thing is it’s not as useful as the QF tagging system which is faster.
What’s annoying about it’s inclusion is that it sweeps up spurious transactions (more common in small/sole trader setups) and accounts double entries incorrectly in the bottom line when you have say entered a purchase invoice, paid it and that transaction has gone through your bank but you’ve not allocated the payment yet.
This maybe more of a thing now we have systems with live bank feeds. Just thought it’s inclusion was peculiar as bank transactions are not business performance metrics.