personal accounts


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Personal Account

A bank account one uses for purposes other than business. One uses a personal account for one's daily and regular expenses, such as rent, utilities, debt service and groceries. One also uses a personal account for one's savings that have not been invested. Most personal accounts are thus divided into checking and savings accounts.

personal accounts

the accounts which are recorded in the sales ledger and purchases ledger of debtors and creditors respectively. A business has to keep a record within its recording system of how much is owing from each individual customer and to each individual supplier. See LEDGER.
References in classic literature ?
We are going to operate alone, on our own personal account.
No one was excited even when a fracas on the steps of a leading hotel in Piccadilly, in which he tried to horse-whip a prominent German musician upon some personal account, delayed his promised ascent.
Just as importantly, personal accounts give workers the opportunity to stay out of the stock market entirely if they so choose.
But with personal accounts from hundreds of friends and foes, colleagues and former employees, and even the man himself, Justin Martin pieces together the most thorough account yet of America's number one consumer advocate.
The multimedia "Casting for a Career" presentation offers personal accounts from past FEF scholars and educators as well as information on North American casting as a whole.
In this absorbing collection of impressionistic personal accounts, the choice of cities is intriguing.
For Social Security reform, the surpluses would greatly help to finance promised benefits during the transition, as workers start paying at least some of the payroll taxes into personal accounts instead of Social Security.
Several bills as well as numerous proposals by scholars and think tanks went further, calling for large personal accounts that ultimately replaced most if not all of the Social Security retirement program.
It is not away to solve Social Security's fiscal shortfall; rather, it is designed to convert it from a system of social insurance into a system of atomized personal accounts much like IRAs.
Furthermore, the amounts credited to the taxpayer's personal accounts were held to be taxable without regard to whether they were characterized as additional compensation received from the employer or as the employee's gain from the disposition of property.
This report provides a comprehensive analysis of the impact the introduction of personal accounts will have on workplace pensions and on the private pensions industry.
67 million from the official account to their personal accounts in a short span of time illegally.

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