Definition of account

1. systematic arrangement showing the effect of transactions and other events on a specific balance sheet or income statement item. An account is usually expressed in money. A separate account exists for each asset, liability, stockholders' equity, revenue, and expense. Accounts are the way in which differing effects on the basic business elements are categorized and collected. Accounts are in the ledger (ledger account). Examples are cash, accounts payable, and dividend revenue. See also chart of accounts.
2. relationship between one party and another. Examples are a depositor or borrower with a bank or thrift institution or a credit relationship with a seller of goods or services.

contractual relationship between two parties involving an exchange of funds at a later date, as between buyer and seller, or an agreement by one party to hold funds in trust for the other. It also is the continuously updated record of transactions, yielding the current balance, or available balance. Examples include a charge account, checking account, or trust account.

1. Accounting.A bookkeeping entry in a ledger. Examples are accounts receivable, accrued interest, allowance for bad debt.
2. Banking. (1) A record of funds on deposit under a particular name or account number, such as a checking account, also called a demand deposit account, which pays no interest but allows the account holder to withdraw funds by writing checks; a Negotiable Order Of Withdrawal (NOW) Account account, a check-like account that pays interest; a passbook account, a savings account with no specified maturity; and a time depositaccount, which pays interest on funds deposited for specified periods (7 days up to 7 years or more), and may be subject to an early withdrawal penalty if funds are taken out before the maturity date. See also all savers certificate; Automatic Transfer Service (ATS); draft; Money Market Deposit Account (MMDA); Small Saver Certificate (SSC); statement of account; super now account; trust account; (2) A transaction record of a credit cardor home equity credit line, or a commercial accounts receivable financing
3. Securities.A contractual arrangement under which securities, mutual fund shares, futures and options, and so on are bought and sold; a brokerage account.

In general:contractual relationship between a buyer and a seller under which payment is made at a later time. The term open account or charge account is used, depending on whether the relationship is commercial or personal.
Banking:relationship under a particular name, usually evidenced by a deposit against which withdrawals can be made. Among them are demand, time, custodial, joint, trustee, corporate, special, and regular accounts.
Bookkeeping:assets, liabilities, income, and expenses as represented by individual ledger pages to which debit and credit entries are chronologically posted to record changes in value. Examples are cash, accounts receivable, accrued interest, sales, and officers' salaries.

authorization to use a computer or any kind of computer service, even if free of charge.An account consists of an identifying name and other records necessary to keep track of a user. Sometimes an account belongs to another computer or a computer program rather than a human being.

In general: contractual relationship between a buyer and seller under which payment is made at a later time. The term open account or charge account is used, depending on whether the relationship is commercial or personal.

Also, the historical record of transactions under the contract, as periodically shown on the statement of account.
Banking: relationship under a particular name, usually evidenced by a deposit against which withdrawals can be made. Among them are demand, time, custodial, joint, trustee, corporate, special, and regular accounts. Administrative responsibility is handled by an account officer.
Bookkeeping: assets, liabilities, income, and expenses as represented by individual ledger pages to which debit and credit entries are chronologically posted to record changes in value. Examples are cash, accounts receivable, accrued interest, sales, and officers' salaries. The system of recording, verifying, and reporting such information is called accounting. Practitioners of accounting are called accountants.
Investment banking: financial and contractual relationship between parties to an underwriting syndicate, or the status of securities owned and sold.
Securities: relationship between a broker-dealer firm and its client wherein the firm, through its registered representatives, acts as agent in buying and selling securities and sees to related administrative matters. See also account executive; account statement.

1. business relationship between an agent and a principal-for example, between an advertising agency and an advertiser.
2. client (individual or company) of an advertising agency.
3. customer of a supplier or tradesperson-for example, a purchaser of printing supplies or art materials needed for advertising production.