Cash Suspense Accounts

Overview of IL173

Cash Suspense Accounts are used as an offsetting account when making a financial adjustment to penalty amounts or reversing certain transactions (such as loan payment reversals). Anything in these accounts must eventually be cleared via a manual journal entry.

NOTE: You will also want to add the Cash Suspense Account to the checking account(s) in Checking Account Setup in order to process loan payment reversals.

• From the DDI Connect main menu, double-click Financial Services
• Double-click Data Processing
• Double-click Financial Services Administration
• Double-click Cash Suspense Accounts. You will see this screen:

To add a new suspense account, click the Add button on the toolbar. The fields will activate for editing:

The following fields are available:

Field	Description
Acct	The account number will default to the next available number on the screen
Description	Enter a brief description of the suspense account
GL Account	Enter the GL account for this suspense account. You can either manually type in the number or you can click the list icon to select from a list of active GL accounts in the system

When you have finished adding the information, click Save.