(n.) Account that gives little, or in most cases no interest. Holds the personal short-term money transactions. It is a fluctuating account held for either private or business reasons, sometimes at a bank, although in the case of the latter, may be held within a business. Credits to this account are share of profit, salary and interest allowed on capital account. Debits are loss of profit or drawings.
by Kung-Fu Jesus May 06, 2004