personal accounts meaning
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- personal accounts. Definition. A record of amounts receivable from or payable to a person or business. These accounts are known as a sales ledger or purchase ledger. Use personal accounts in a sentence.
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trust account Definition of trust account: An account in which a bank or trust company (acting as an authorized custodian) holds funds for specific purposes such as to pay property taxes and/or insurance premiums associated with a mortgaged ...
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- credit accountnoun [ C ] uk ​ /ˈkred.ɪt əˌkaʊnt/ us ​ /ˈkred.ɪt əˌkaʊnt/ UK US charge account. › a formal agreement between a shop or other business and a customer, in which the customer can take goods and pay the shop or business for them at a later time.
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What is a 'Savings Account' A savings account is an interest-bearing deposit account held at a bank or another financial institution that provides a modest interest rate.
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- Definition of due from account: An asset account that refers to a receivable from one firm to another. Definition of due from account: An asset account that refers to a receivable from one firm to another.
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- Savings accounts are accounts maintained by retail financial institutions that pay interest but cannot be used directly as money in the narrow sense of a medium of exchange (for example, by writing a check).
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What is an 'Account Balance' DEFINITION of 'Account Balance'. 1. The amount of money in a financial repository, such as a checking account, at any given moment. 2. The total amount of money owed to a third party such as a credit card company, utility company, mortgage banker or other type of lender or creditor. The account balance will always be the net amount after factoring in all debits and credits.
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Time Deposit Account The Personal Regular Time Deposit is a placement with a specified maturity date, earns higher interest than a Regular Savings Account and is available with a certificate of time deposit, options of individual, joint or or joint and accounts.
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- Definition of proprietary accounts: Accounts that (in contrast to budgetary accounts) show actual financial position of a firm such as actual assets, liabilities, reserves, etc. Dictionary Term of Day Articles Subjects Sign Up
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bank account 1. 1  an account with a bank. 2  balance standing to the credit of a depositor at a bank. 3  an account created by the deposit of money at a bank by a customer. 4  the amount of moneys credited or debited to a depositor at a bank.
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- Usage notes. 1  When the object of this preposition is brief and animate, the alternative construction on someone's account is often used instead. 2  If the object is a personal pronoun, that construction is more common; for example, on my account is more common than on account of me. If the object is a personal pronoun, that construction is more common; for example, on my account is more common than on account of me.
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Customer Identification ProgramâOverview Pursuant to the CIP rule, an account is a formal banking relationship to provide or engage in services, dealings, or other financial transactions, and includes a deposit account, a transaction or asset account, a credit account, or another extension of credit.
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wrap account 1. 1  a personally managed investment account where charges are levied on the basis of the account's total assets. 2  a personally managed investment account where charges are levied on the basis of the account's total assets.
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- Definition of account balance: The amount of money in an account, equal to the net of credits and debits at that point in time for that account. also... Definition of account balance: The amount of money in an account, equal to the net of credits and debits at that point in time for that account. also... Home Articles
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on-account-of 1 If the object is a personal pronoun, that construction is more common; for example, on my account is more common than on account of me.2  Similarly, on that account, using that as a determiner, is more common than on account of that. If the object is a personal pronoun, that construction is more common; for example, on my account is more common than on account of me.
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- An Account is a separate record for each type of asset, liability, equity, revenue, and expense used to show the beginning balance and to record the increases and decreases for a period and the resulting ending balance at the end of a period.
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savings account See more synonyms on Thesaurus.com. noun. 1. a bank account on which interest is paid, traditionally one for which a bankbook is used to record deposits, withdrawals, and interest payments.
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What Is the Meaning of Account Designation in Regards to a Bank Account? July 22, 2010. Account designation is a term used when talking about a beneficiary of a bank account. When an individual with a bank account dies, the account designation is the form that states to whom the account is given. Account designation in regards to bank accounts deals with beneficiaries.
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Account Types Some of the characteristics of a Personal Trust account are as follows: 1  Any of the trustees listed on the account can place trade orders, authorize check payouts, and request securities be issued in the name of the trust. 2  Check writing is available for most personal trust accounts.
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Sensitive personal information Sensitive personal information is defined by the federal banking regulators as: Sensitive personal information also includes any combination of components of customer information that would allow someone to log onto or access the customer’s account, such as user name and password or password and account number.
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Explain about real account, personal accounts and nominal accounts The non personal accounts are bifurcated into : Real accounts and Nominal accounts. Real accounts means those accounts which belong to assets whether real assets or non real assets. Examples are building, cash, fixed deposits maintained by you with someone else, plant and machinery etc.
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personal personal - concerning or affecting a particular person or his or her private life and personality; a personal favor; for your personal use; personal papers; I have something personal to tell you; a personal God; he has his personal bank account and she has hers
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owner's drawing account definition The contra owner's equity account used to record the current year's withdrawals of business assets by the sole proprietor for personal use.This is a temporary account with a debit balance.It will be closed at the end of the year to the owner's capital account.he contra owner's equity account used to record the current year's withdrawals of business assets by the sole proprietor for personal use.
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- bank account. an account with a bank. balance standing to the credit of a depositor at a bank.
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- Anonymous, or guest, accounts are accounts that are setup for the. use of visitors to your system. They are often used for allowing a user. access to your system for a specific reason, such as to access to an. external server so that they can download shareware or freeware. programs.
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DURABLE POWER OF ATTORNEY BANK ACCOUNTS (2) “Power of attorney account” means an account in the name of a natural person as principal and with respect to which one or more other natural persons have been designated as agents with the right to make deposits to and to withdraw funds from or draw checks on such account;