IRS guidance provides that the failure can generally "be corrected by reallocating all forfeitures in the plan's forfeiture suspense account
to all plan participants who should have received them, had the forfeitures been allocated on time.
A suspense account
has been opened to make it balance.
She found the money in a suspense account
and arranged for it to be paid at her local branch.
In short, a suspense account
is not some type of magic account that precludes the legal conclusion that the funds have been received and accepted by the mortgage servicer.
It may be pertinent to note here that since it has not been possible to locate the data of the unrealized interest transferred to the suspense account
in the annual reports of the banks, it could not be taken into account in the above calculations of the NPLs ratio If this item is also duly accounted for the ratio of NPLs will further increase sharply and may be that it turns out to be higher than what it was prior to the induction of the professional management in early 1997.
It would be tax-disadvantageous, however, for the Corporation not to use the dividends on the unallocated shares to pay down the loan but instead add them to the suspense account
One approach is to establish a suspense account
for the excess contribution amount, and to use that suspense account
to reduce subsequent employer contributions.
He found more than $1 billion in an RTC holding tank called a suspense account
After examining the general ledger for 2015-16, confidential expenditure of Sh105 million was charged to the general suspense account
without verifiable documents.
When she recorded the cash withdrawal as going to the non-existent teller drawer, the vault balance reflected a reduction in the actual cash on hand while the corresponding deposit transfer could not be recorded because there was no such drawer; rather it was recorded in a general ledger suspense account
as a default entry, according to the auditor's report.
As per the annual accounts cleared at the latest meeting on Monday, the negative balance of the suspense account
had been completely accounted for and there was a positive balance now.
Banks, DFIs and MFBs shall bear the cost of such write offs to the extent of amount held into provision against Non Performing Loans (NPLs) and interest in suspense account
, while the rest of the cost will be paid by the Government of Pakistan as subsidy, says IH&SMEFD Circular Letter No.