Imbalances

[Colin Law]

On 12 February 2013 08:08, Michael Hendry <hendry.michael at gmail.com> wrote:
>
> On 11 Feb 2013, at 23:31, Paul Schwartz <pmjs1115 at gmail.com> wrote:
>
>> My practice is to adjust an equity account to get "pocket cash" to balance.
>> Another alternative is to charge it to a Miscellaneous expense account.
>>
>> HTH
>>
>> Paul
>>
>>
>
> Another conventional way of dealing with this is to set up an Expense Account called "Suspense", and use this for your orphaned transactions (they always seem to be Expenses, don't they? Money doesn't often appear in your accounts without your knowing where it came from!).
>
> Assigning it to "Miscellaneous Expenses" makes it sound as though you know perfectly well where the money went, but have difficulty in classifying its destination.

I do know where it went, it went on miscellaneous expenses with
amounts that are too small to worry about classifying further and that
I can't actually remember spending.  Newspapers, a cup of coffee,
parking and so on.  Miscellaneous.

Why "Suspense"?  Not that it matters what you call it, as long as you
know what it means.

Colin