Rotating suspense account
The rotating suspense account holds the accumulated cost of repairs to an asset until you move the asset into a storeroom.
The rotating suspense account is the debit account for work orders that you charge to a storeroom. This account is charged when you use material, labor, or tools to complete the work order. When this account is debited for resource use, it credits the appropriate resource control account.
The rotating suspense account is debited when you receive a service associated with rotating assets. If the cost of the service on the approved invoice exceeds the cost at receipt, this account is debited for the variance. When the rotating suspense account is debited for the received or invoiced service, it credits the received but not invoiced account for the vendor.
The rotating suspense account is the credit account when you move rotating assets from a non-storeroom location to an inventory-type location. When you move the assets into the storeroom, a transaction of type TRANSFER is written to the MATRECTRANS table. The transfer transaction causes the rotating suspense account to be credited and the rotating suspense account to be debited for the receiving storeroom.
In the Chart of Accounts application, you can specify a global rotating suspense account code. To specify this account code, select the Organization Default Account action and enter a value in the Global Rotating Suspense Account field. The value that you enter becomes the default for the Rotating Suspense Account field in the Assets application or you can specify a new value in this field.
By default, the Rotating Suspense Account field is not visible.