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memo account

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21:30 Jun 8, 2009

This question was closed without grading. Reason: Answer found elsewhere

Greek to English translations [PRO]
Bus/Financial - Accounting / Balance sheet

Greek term or phrase: memo account

The language pair may seem wrong to you, but I'm translating this balance sheet of a Greek company written in English into Bulgarian.
The *memo account* stands at the bottom of both Assets and Liabilities, under the grand total for both categories.
Can you help me what type of an account is this according to the Greek accountancy standards? Or what it stands for...?

Daniela Koleva KudoZ activity Questions: 43 (none open) (11 closed without grading) Answers: 120 Netherlands
Local time: 11:33

Summary of reference entries provided

Jacques Raymond

memo account=suspense account

socratisv

Discussion entries: 1

Reference comments

36 mins

Reference

Reference information:
An account maintained internally by government bodies to control financial claims and, as such, are not recorded in the accounts of Canada.

Reference: http://www.btb.termiumplus.gc.ca

Jacques Raymond
Canada
Native speaker of:

French

4 hrs

Reference: memo account=suspense account

Reference information:
In accountancy, a suspense account is an account used temporarily to carry doubtful receipts and disbursements or discrepancies pending their analysis and permanent classification.

It can be a repository for monetary transactions (cash receipts, cash disbursements & journal entries) entered with invalid account numbers. The account specified may not exist, or it may be deleted/frozen. If one of these conditions exist, the transaction should be directed to a suspense account.

http://en.wikipedia.org/wiki/Suspense_account

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Note added at 5 heures (2009-06-09 02:31:39 GMT)
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memo=memorandum

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Note added at 5 heures (2009-06-09 02:34:47 GMT)
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also, you have credit memo/suspense accounts and debit memo/suspense accounts

Reference: http://tinyurl.com/kpswxj

socratisv
France
Native speaker of:

Greek,

French

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