On Account Definition

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Example sentences with "sale on account", translation memory. Reconciliation – At the central, divisional, and local levels, sales or fees for services are totalled and balanced to cash sales and sales on account; accounts receivable to sales on account and receipts; and reported sales against inventory and level of production or activity.

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Definition of on account in the Definitions.net dictionary. Meaning of on account. What does on account mean? Information and translations of on account in the most comprehensive dictionary definitions resource on the web.

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What is an account? Definitions of Account. In accounting, an account is a record in the general ledger that is used to sort and store transactions. For example, companies will have a Cash account in which to record every transaction that increases or decreases the company’s cash.

On account is an accounting term that denotes a partial payment of an amount owed or the purchase/sale of merchandise or services on credit. On account can also be referred to as "on credit.

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Accounting information systems have reduced the cost of accumulating, storing, and reporting managerial accounting information and have made it possible to produce a more detailed account of all data that is entered into any given system.

Additionally, mutual funds only trade once daily and are often part of a 401(k) or an individual retirement account, IRA. As mentioned earlier, there are different kinds of funds with different goals.

His complaint gives this account of what happened next. intervened saying the panel may have misinterpreted the university’s definition of “coercion.” Shaha recommended a new hearing board with the.