Occasionally, you may have income or expense transactions that you’re not sure how to categorize. In those situations, it’s best to temporarily tag them to the Suspense account so your accountant can advise you on the best way to record them.

To tag expenses to your Suspense account, select the expense category "Suspense - TBD by Accountant", which is listed alongside the other business expense categories.

To tag income to your Suspense account, select the Advanced income category called "Suspense - TBD by Accountant". Note that Advanced income categories can only be selected in the web app.

Transactions tagged to the Suspense account are not reflected in your income/expense totals or your tax estimates. They’re also not reflected in your P&L, Balance Sheet, or other reports. The only report you’ll see the Suspense account reflected in is your Trial Balance report.

You will also see the Suspense account reflected in your Chart of Accounts, if you have transactions tagged to it.

In order to close your books for the month or quarter, you should ensure that you’ve re-categorized any transactions that you temporarily tagged to the Suspense account. You can verify this by checking for a balance in the Suspense account in the Chart of Account or Trial Balance report. If there is no balance, you’ve re-categorized all of your transactions and there aren’t any transactions currently tagged to the Suspense account.