One of the most common uses of this account is to facilitate spreading advance payments by members over a period of months. A member might deposit three times his/her regular contribution and wants this advanced payment credited each month on the day that the payments from the other members are deposited. The transaction would be entered into bivio by making a transfer from Suspense to the Checking (or Brokerage) Account. This would put the checking account in balance, and would leave a credit (negative balance) in the Suspense Account. In accounting parlance, the Suspense account represents a liability to the member at this point. When recording the advanced payments for this member for the next three months, select the Suspense Account on the Member Payment form. This would eliminate the credit (negative balance) previously entered in the original transfer.

In another situation, the Suspense Account is often used in conjunction with optional cash payments made to a Dividend Reinvestment Plan (DRIP). In this case, a check is sent to the DRIP, reducing the balance in the account from which the check was written. It may be weeks or months before you receive a statement indicating the number of shares purchased, preventing you from entering the buy transaction into bivio. In order to reflect an accurate balance in the cash account from which the funds were issued during the interim period, enter a transfer from appropriate cash account to the Suspense Account when the check is issued. When the DRIP satement is received and the purchase is entered into bivio, select the Suspense Account as the source of funds on the Record Purchase page.