drawing account


drawing account
noun
2. : an account showing usually periodic cash payments to an employee in advance of actual earnings or for expenses to be incurred; especially : one showing advances to a salesman against commissions on future sales or for traveling expenses
3. : an account showing the withdrawals of a proprietor or partner from his business; especially : one showing withdrawals against current or anticipated profits — called also personal account

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Com.
1. an account used by a partner or employee for cash withdrawals.
2. an account that is charged with advances of money for expenses, on salaries, against earnings, etc., esp. for sales representatives.
[1825-35]

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drawing account,
an account that shows withdrawals of money in a business for expenses. A drawing account shows how much money a salesman has drawn against his future salary, commissions, or expenses.

Useful english dictionary. 2012.

Look at other dictionaries:

  • drawing account — ➔ account1 * * * drawing account UK US noun [C] US ► ACCOUNTING a company account that contains a record of the money that its owners take for themselves ► BANKING a bank account that employees use for expenses related to their jobs …   Financial and business terms

  • drawing account — n. an account of or for money paid for expenses, advances on salary, etc., as to a salesman …   English World dictionary

  • Drawing Account — An accounting record maintained to track money withdrawn from a business by its owners. A drawing account is used primarily for businesses that are taxed as sole proprietorships or partnerships. Owner withdrawals from businesses that are taxed as …   Investment dictionary

  • drawing account — The account of an employee, usually a salesman working on a commission or part commission basis, with the employer, upon which advances are made to the employee at intervals fixed by the contract of employment or upon request by the employee.… …   Ballentine's law dictionary

  • drawing account — draw′ing account n. 1) bus an account used esp. by a business partner for cash withdrawals 2) bus an account that is charged with advances of money against future earnings, esp. sales commissions • Etymology: 1825–35 …   From formal English to slang

  • drawing account — Com. 1. an account used by a partner or employee for cash withdrawals. 2. an account that is charged with advances of money for expenses, on salaries, against earnings, etc., esp. for sales representatives. [1825 35] * * * …   Universalium

  • drawing account — / drɔ:ɪŋ əˌkaυnt/ noun a current account, or any account from which the customer may take money when he or she wants …   Dictionary of banking and finance

  • drawing account — noun Date: 1885 an account showing payments made to an employee in advance of actual earnings or for traveling expenses …   New Collegiate Dictionary

  • drawing account — bank account which allows sums of money to be regularly withdrawn …   English contemporary dictionary

  • drawing account — /ˈdrɔɪŋ əkaʊnt/ (say droyng uhkownt) noun US Banking, etc. → cheque account …   Australian English dictionary