Business / Accounting / Suspense Account: A temporary account used to force a trial balance to balance if there is only a small discrepancy (or if an account's balance is simply wrong, and you don't know why). A typical example would be a small error in petty cash. In this case a transfer would be made to a suspense account to balance the cash account. Once the person knows what happened to the money, a transfer entry will be made in the journal to credit or debit the suspense account back to zero and debit or credit the correct account.
Account Noun Synonyms: calculation, accounting, reckoning, computation, (financial) statement, enumeration
Suspense Adjective Synonyms: uncertainty, indefiniteness, insecurity, doubt, irresolution, expectancy, indecision, not knowing
Health / Health Insurance / Medical Savings Account (MSA): A trust that employees of small businesses may establish to pay for out-of-pocket medical expenses. MORE
Business / Human Resources (HR) / Medical Savings Accounts (MSA): Savings accounts designated for out-of-pocket medical expenses. In an MSA, employers and individuals are allowed to contribute to a savings account on a pre-tax basis and carry over the unused funds a MORE