1. Suspense Accounts And Link Heads Abhilasha Jha IRAS(P)

2. What are Suspense heads? Are heads in which those transactions are recorded which cannot be booked to final heads of accounts for any reason. Transactions in the suspense heads are held temporarily pending clearance by payment or recovery or adjustment to the final heads of accounts.

3. Types Of Transactions Booked To Suspense Heads Inventory Accounts Cash Advances Materials issued to contractors Allocation is not known or final acceptance of a party to a claim is awaited Link between commercial and government accounting.

4. Suspense Heads Revenue Account- Demands payable,Demands recoverable,Traffic Suspense,Misc.Accounts Recovery. Capital Account- Stores,Purchase,Sales,SINT,MAC,WMS, Labour

5. Contd. Debt- Loans and advances,Deposits Remittances- RBS, RIB, Cheques and Bills, M Remittance and Deposits with RBI

6. Link Heads Those suspense heads which serve as a link between government and commercial accounts. They bring into account earnings which have accrued to us but have not yet been received and liabilities which have occurred but have not been discharged.

7. Debit Credit Entries Demands payable: 31 st March-at the time of passing pay sheet Demand No.3-------Dr Demands payable---Cr 1 st April-handing over cheque Demands Payable-----Dr Cheques and bills------Cr

8. Contd… WMS account: Issue of material from stores WMS----------------Dr Stores Suspense---Cr Purchase of material directly by W/S WMS---------------Dr Ch.& Bills----------Cr

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