Annex 1: suspense account manager checklist
Review of suspense accounts checklist: suspense account manager
Account Name:
Account Code:
Quarterly |
Qtr 1 |
Qtr 2 |
Qtr 3 |
1. Is there a continuing need for this account and is its purpose clear? |
Yes/No | Yes/No | Yes/No |
2. Is the account still being used for its original purpose? |
Yes/No | Yes/No | Yes/No |
3. Can individual debtors and creditors making up the total balance be separately identified from SEAS reports or otherwise? |
Yes/No | Yes/No | Yes/No |
4. Has action been taken to clear any inappropriate entries? |
Yes/No | Yes/No | Yes/No |
5. Are balances regularly cleared? |
Yes/No | Yes/No | Yes/No |
6. Has the balance changed within the last 3 months? |
Yes/No | Yes/No | Yes/No |
7. If "no", is retention of the balance in suspense considered to be justified? | Yes/No | Yes/No | Yes/No |
Completed by .......... ......... ........
Year-end
8. Have desk instructions been reviewed and, if necessary, up-dated during the year? |
Yes/No |
9. Have all balances been reviewed and, so far as possible, charged to appropriate account codes? | Yes/No |
Completed by ........
A "No" answer implies that action needs to be taken to correct a control weakness. Proposals for such action should be considered and, where appropriate, implemented each time this checklist is completed.
Updated on: January 2019