Advance Account

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Advance Account

Money given to an employee to spend for a specific purpose before the employee is expected to spend it. For example, a company may give an employee a corporate credit card in anticipation of that employee going on a business trip.
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It emerged in these two cases that the two officials received those amounts which, for some reason, appear to have remained outstanding to-date in the foreign ministry's advance accounts.
Tenders are invited for Banking services: core services, lockbox and ach services, agency advance accounts, trial court disbursement accounts and registry of deeds depository services.
Through this partnership, the US firm will provide the technology for the electronic servicing, underwriting and cash management of all Prospa Advance accounts in Australia, it explained.
Running until March 8, the HSBC sale packs lucrative discounts and special offers for customers on conventional mortgages, personal loans, credit cards and Amanah personal finance, vehicle finance and premier and advance accounts.
During the sale, which will run from January 16 through February 28, HSBC customers in the UAE can sign up for discounted mortgages, personal and auto loans, insurance, credit cards, wealth products and exciting Air Miles bonus rewards on premier and advance accounts, the bank said in a statement.
It is not unusual for private companies to have working capital tied up in debtors, stock and other assets, resulting in dividends being credited to shareholder advance accounts as opposed to being fully paid in cash.
It is commercially prudent for shareholders to fund a company through advance accounts rather than it all being through shareholder capital.