Personal Accounts


Also found in: Financial.

Personal Accounts

 

(bookkeeping), accounts included in analytic cost records and designed for settling with organizations and individuals. Personal accounts are opened by the bookkeeping department of an enterprise (organization or institution) for every legal or physical person with which it has particular types of settlements. All information on the condition and change in settlements is entered in the personal accounts. For example, the personal account of a production or office worker for keeping track of wage settlements includes information on wages computed for the worker, retentions and deductions made from this amount, and the total which is to be turned over to him. Personal accounts differ in form, reflecting the type of settlement (wages, offsetting of mutual demands, and the like) and accounting techniques (manual or mechanized).

References in periodicals archive ?
'The parents alleged that the principal had told them that the school accounts were not functioning well and ordered that they paid their fees to his personal account.
Harvinderjit: I suggest that this conversation log showed that Jho Low did not make any attempt to inform Najib of the transactions in his (Najib) three personal accounts?
State authorities incomes will monitor the status of personal accounts on a daily basis and, if the principal is paid, no later than three working days will make appropriate decisions about the writing-off," said the vice minister.
production of printed materials (personal accounts) 4 250 pieces, indicated by the participants
ABBOTTABAD -- Federal Ombudsman regional office Abbottabad on Wednesday ordered Commissioner Land Revenue and Audit Officer Income Tax Haripur to pay the expenses of the case from their personal account including fine to the complainant.
"In or around July 2017, the Debtors authorized transfers between GreenMind's account, their own personal accounts , and Jacob's personal account[.]
The Sim card, which was swapped on July 3 while he was in Israel, was used to withdraw S39,000 from his personal account via mobile banking transfer and also command transaction of Sh1.5 million from the joint account, which was wired to accounts in other banks.The fraud is reported to have been orchestrated by, among other suspects, the bank official in collusion with a former customer care executive at a mobile service provider, both of whom have since been arrested.
He said he wants an explanation from the officials as to where the money was used and why it was deposited in their personal account or 'they will never again step foot in their offices.'
While testifying, Vaz alleged that the funds were credited to personal accounts of the couple, without board resolution.
Sources told that Deputy Director Property and Land Workshop has deposited the income of 56,00000 rupees generated from shops and lands in his personal accounts.
Summary: Ajman Police blocks 13 personal accounts on social media for selling drugs in UAE
ANSWER: Aggregating retirement and personal accounts to provide a reduced fee may be well-intentioned but, unfortunately, could result in a prohibited transaction under the Internal Revenue Code (IRC) and ERISA.

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