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English definition of “account”

account

noun [C]
 
 
/əˈkaʊnt/
(also bank account, written abbreviation a/c, also acct.) BANKING an arrangement with a bank in which the customer puts in and takes out money and the bank keeps a record of it: close/open an account When she starts school we're opening an account in her name and we'll put money into it each year.deposit/pay money into an account Anna could deposit her savings into an account offering more interest.an account with sth She applied for the card soon after opening an account with the bank.joint/separate account It's better to have separate accounts and feed money into a joint account for shared bills. a checking/cheque/current accountbusiness/personal account Each month I transfer money from my business account to my personal account. a deposit/savings account
(also UK credit account, also US charge account) FINANCE an agreement with a store or company that allows you to buy things and pay for them later: open an account with sth If you open an account with the store you save 10%.charge sth to an account Jenny got the bill and said she'd charge it to the company account.
ACCOUNTING a record of money received, spent, or owed: An account of travel expenses incurred by an employee must be submitted for reimbursement together with receipts.
MARKETING a customer who does business regularly with a company: lose/win an account The company has won a batch of high-profile advertising accounts
IT an agreement with a company that allows you to use the internet and email, and gives you space on the internet to put your documents: Some people have a specific service in mind, whether it's an account with free Web space or the ability to develop an electronic commerce site online.
on account to be paid for at a later time: $25,000 in inventory was purchased on account from suppliers in July. paid as part of the total amount owed: Part is paid on account, and the rest is paid at the end of the period.
→ See also adjustment account, appropriation account, balance of payments capital account, balance of payments current account, bank account, call account, cash account, cash management account, charge account, client account, club account, consignment account, contra account, control account, credit account, current account, custodial account, debit account, demand account, deposit account, depreciation account, discretionary account, dormant account, drawing account, email account, entertainment account, Exchange Equalization Account, expense account, external account, foreign currency account, inactive account, income and expenditure account, individual retirement account, instant access account, joint account, loro account, margin account, merchant account, nostro account, notice account, NOW account, numbered account, postal account, profit-and-loss account, public account, purchases account, sales account, sales returns account, savings account, sundries account, suspense account, trust account, vostro account
(Definition of account from the Cambridge Business English Dictionary © Cambridge University Press)
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