Sub Account

Definition

  • To aid in record keeping, a business can compartmentalize its financial accounts into sub accounts to allow for more straightforward tracking of each department's finances.

Synonyms
separate account

Related Terms and Acronyms

  • Asset Definition,
    • Anything of monetary value that is owned by a person. Assets include real property, personal property, and enforceable claims against others including bank accounts, stocks, mutual funds, and so on.
  • General Account (GA) Acronym, Very Important,
    • Investments and assets that an insurer uses for paying benefits and claims.
  • Investment Definition,
    • Something you put your money into in order to make money.
  • Liabilities Definition,
    • A borrower's debts and legal obligations.
  • Loss Definition,
    • When expenses are larger than revenues.
  • Profit Definition,
    • When revenues exceed expenses.
  • Protected Cell Company (SPC) Acronym,
    • A company that separates its assets and liabilities into a number of 'cells' to shield itself and each 'cell' from losses.
  • Security Definition,
    • A tradable financial implement that represents ownership, the rights to ownership or debt.
    • Property designated as collateral.
    • A document stating ownership of a stock or bond.
Compare. Calculate. Apply today.
Compare Mortgage RatesMortgage CalculatorsApply for a Mortgage