An account is a basic entity in monetary management and it can be defined as an organization or an arrangement by a financial institution such as bank in which it accepts the monetary and other financial assets from the customer and holds them and
Account is a record of money that has been paid and money that has been received a record of debit and credit entries to cover transactions involving a concerning item or person .
Important Bookkeeping Terms: Before attempting to learn the art or science of bookkeeping it will be better to clarify some of the terms that will have to be used again and again. Transaction: Any dealing between two persons or things in a transaction. It