personal accounts

Also found in: Encyclopedia.

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.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

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.
Collins Dictionary of Business, 3rd ed. © 2002, 2005 C Pass, B Lowes, A Pendleton, L Chadwick, D O’Reilly and M Afferson
References in classic literature ?
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.
We are going to operate alone, on our own personal account."
He said that the defendants, who were employed by the school; Funktob Schools, had been collecting school fees from the pupils into their personal accounts.
MACC Senior Assistant Commissioner (Special Operations Division) Rosli Hussain, 54, said his investigation found that Jho Low had no interest over the RM170 million belonging to SRC International Sdn Bhd that were in Najib personal accounts at AmIslamic Bank.
The functions of this commission include daily work on the inventory of personal accounts for the selection of taxpayers who repaid the amount of arrears, making decisions on the write-off of interest on selected taxpayers within 3 working days.
Earlier, it was a common practice by the tax officers to deduct taxes from the personal accounts of the traders which was banned by the current FBR Chairman.
Where the debtors made a series of suspicious transfers from their business accounts to their own personal accounts and the personal account of a family member, and failed to include those transactions in their statements of financial affairs, the plaintiffs were entitled to a denial of the debtors' discharges.
The FIA report regarding the issue read, These amounts were further transferred to the personal accounts of the trustees of KKF, MQM accounts and other firms and subsequently those amounts were sent abroad to the accounts of the MQM UK, Simon and Simons in the UK and other accounts, including personal accounts of trustees.
A member of staff at the bank was used to generate my personal accounts PIN, and also edit my joint accounts data to link it with the swapped line, he said.
The Commission on Audit report for 2017 found that the OTC immediately released the total amount as cash advances: P2 million to Pabualan and P1.3 million to Clave, which they deposited in their respective personal accounts.
The prosecution had alleged that the two transferred money to their personal accounts on April 3, 2001.

Full browser ?