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,
  • Property designated as collateral.
  • A tradable financial implement that represents ownership, the rights to ownership or debt.
  • A document stating ownership of a stock or bond.