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Open account |
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Open accountArrangement whereby sales are made with no formal debt contract. The buyer signs a receipt, and the seller records the sale in the sales ledger.Open account Similar MatchesAccounts payableAccounts payableMoney owed to suppliers. Special bond accountSpecial bond accountA special broker margin account used only for transactions in US government bonds, municipals, and eligible listed and unlisted non-convertible corporate bonds. Personal accountsPersonal accountsA company's sales accounts of customers contained in the sales ledger and purchase accounts of suppliers contained in the purchase ledger are also known as personal accounts. TT&L accountTT&L accountTreasury tax and loan account at a bank. Share accountShare accountA building society account where there is no cheque book facility. Interest is usually variable and sometimes there is a notice period for withdrawals. Share account holders are members of the society and are entitled to vote and attend annual general meetings. Further SuggestionsHistorical Cost Accounting ConventionRestricted account Account Management Profile System lifelong individual savings account Inflation accounting Current account Current account surplus Transaction account Overdraft checking account savings account Accounts receivable financing IRA (individual Retirement Account) Deferred account Individual Savings Account cheque account nominal account current cost accounting Special arbitrage account Accounting Standards Board Asset management account I Impound Account Escrow account Statement of Financial Accounting Standards No 8 Accounting earnings Sweep account |
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