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n a basic storage unit in an accounting system. Individual accounts accept debit and credit entries that reflect the different types of transactions made by the practice.
account book,
n a book in which the financial transactions of a business or profession are entered. Such books may be admitted as evidence.
account, open,
n a straightforward arrangement between the dental provider and the patient for the handling of financial payments due the dental provider and owed by the patient.
account, payable,
n a dollar amount owed to creditors for items or services purchased from them.
References in periodicals archive ?
Germany: Still the lion of the euro economy, and 96% sell there on open account terms.
In response to the Tax Court's decision in Brooks, in 2007 the IRS issued proposed regulations modifying the definition of open account debt (REG-144859-04).
In addition, practitioners need to be aware of a potential change in the definition of open account debt.
Table One Risk Ladder Seller's Perspective Payment Mechanism Buyer's Perspective High Risk Most Advantageous |down arrow~ Open Account |up arrow~ Collection |down arrow~ Letters of Credit |up arrow~ |down arrow~ Cash in Advance |up arrow~ Low Risk Least Advantageous The Ladder of Risk displays payment mechanisms arrayed in terms of the level of payment risk assumed by the seller.
Loan repayments on open account debt are applied to all such debt.
The program will provide open account trade credit and an extended suite of service capabilities including instant credit, online account information and monthly statements directly linked through the WinWholesale Web site.
The solution, comprised of Import/Export Letter of Credit, Open Account, Standbys, Purchase Order Processing, Documentary Collections, and Reports modules, offers a number of key features including:
Global Banking News-December 11, 2017--Pakistan expats required to open accounts in the nation
Omwenga asked farmers to open accounts with the sacco because this will limit their spending.
In its continued efforts at ensuring the prompt payment of teachers salaries in the state as well check payroll fraud and other sharp practices, the Bayelsa State Government has directed Principals of all the secondary schools to open accounts with the Sterling Bank Plc.
based Purdue Federal Credit Union, which has $954 million in assets and 68,000 members, was the largest issuer, with 25,341 open accounts in 2014.
BAGHDAD / NINA / Central Bank of Iraq declared that it granted approval to the companies of money transfer to open accounts directly in the Bank.