Temporary Account

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Temporary Account

An account whose balance is quickly reduced to zero after its creation by a company. For example, a company may create a temporary account for dividends after they are announced but before they are distributed. After distribution, the temporary account goes to zero. A temporary account is also called a nominal account.
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Suspense account - temporary accounts used while discrepancies are clarified - reconciliations have also not been appropriately undertaken, resulting in a financial cost to the council and payments not being made to HMRC.
"Bahrain's three municipalities and the Capital Trustees Authority have also listed individuals under temporary accounts without calculating final fees despite issuing actual certificates for periods ranging between six months and 24 years, which amounted to huge losses."
"All accounts were maintained by officers belonging to the various MI detachments, and funds were placed in temporary accounts and the details can be provided on a confidential basis.
Temporary Accounts, Finance: Birmingham, Manchester, Glasgow, London, Cardiff, Bristol IT/Computing, CAD designers, CRM: London, Midlands
The system proved reliable, and community users were able to generate their own temporary accounts easily and efficiently right away.
This temporary account would last until the end of the business day, permit general Internet usage, and allow for access to databases with license agreements allowing unrestricted walk-up use.
The client-side application was written in Microsoft Visual Basic 6 and read the data on the user's license, requested an account from the server-side scripts, and sent the user's temporary account username/password to an attached receipt printer.
We found that many first year undergraduate students were confused about how to log on to our computers, and would often attempt to swipe their student cards at the temporary account station.
We also adjusted our policies to specify that users could present government-issued photo identification and be issued a temporary account. Whereas most of our accounts are generated through the self-serve kiosk, service desk staff members create accounts for international users on a regular basis.
"If a company needs a temporary accounts payable clerk to catch them up on their payables, their temporary might easily be someone overqualified for that role who is willing to take the step back because it's only temporary," said Susan Ahrens, regional manager Adams and Associates, an employment agency in Anchorage.
Of course, interim cash balances can be found at any date by adding the balances of the temporary accounts to the beginning cash balance.
We encourage you to experiment by creating subsidiary accounts or temporary accounts as allowed by your particular system.

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