To create a suspense account

Parent Previous Next

The procedure to create a suspense account is as follows:

  1. Navigate to Quick Menu > Rents > Configuration > Suspense Accounts. The Suspense Accounts Details window is displayed.
  2. Click on New Account 1. All fields are activated ready for data entry.
  3. Enter a Description for the suspense account into the field provided 2.
  4. Using the Companies drop-down field, multi-select all companies for which this suspense account is relevant, or choose the All option, as required 1.
  5. Using the Calendar drop-down field, select the calendar that reflects the required period structure for postings into the suspense account.  
  6. Using the Applicable payment types drop-down field, multi-select all parameter values to be linked to the suspense account (e.g. Direct Debit, Standing Order, Housing Benefit, etc), or choose the All option, as required 1.
  7. Choose an Effective from date for this suspense account i.e. the date on which it came into effect 3.
  8. Choose an Effective to date if the suspense account is to be reviewed on a specific date or to capture a change of circumstances; a blank field means the suspense account will be continually valid.
  9. Click on Save. The new suspense account is displayed in the alphabetical list 4.


Tip

1 Where only a small number of parameter values are not required, activate the All tick box first and then de-select individual items from the full list, as required; the All tick box will be automatically removed once an item is de-selected.

Note

1 Upon first access, all fields are automatically activated ready for data entry; hence the New Account button is inactive.

2 System validation rules ensure that the description entered for each suspense account is unique for the effective period.

3 The Effective from date defaults to the current system date and cannot be left blank.

4 To amend the details of an existing suspense account, select an account from the alphabetical list (or type its name into the Search Suspense Accounts field) and repeat steps 3 through 9. By default the list is filtered to show Current suspense accounts. An alternative filter can be applied using the Select view drop-down field: Expired, Future or All combinations. Only a limited number of fields can be updated once a record has been created.


See related topics...

Rents payment batch management overview

To view transactions posted to a suspense account

To transfer a suspense transaction to a rent account