ac·count / əˈkount/ • n. 1. a report or description of an event or experience. ∎ an interpretation or rendering of a piece of music. 2. a record or statement of financial expenditure or receipts relating to a particular period or purpose. ∎ the department of a company that deals with such records. 3. an arrangement by which a body holds funds on behalf of a client or supplies goods or services to the client on credit: a bank account buying things on account. ∎ the balance of funds held under such an arrangement: I wanted to get some money from the ATM and check my account. ∎ a client having such an arrangement with a supplier: selling bibles to established accounts in the North. ∎ a contract to do work periodically for a client. 4. importance: money was of no account to her. • v. [tr.] consider or regard in a specified way: her visit could not be accounted a success. PHRASES: by (or from) all accounts according to what one has heard or read: by all accounts he is a pretty nice guy. call (or bring) someone to account require someone to explain a mistake or poor performance. on someone's account for a specified person's benefit: don't bother on my account. on account of because of. on no account under no circumstances. take something into account (or take account of) consider a specified thing along with other factors before reaching a decision or taking action.PHRASAL VERBS: account for 1. give a satisfactory record of (something, typically money, that one is responsible for). ∎ provide or serve as a satisfactory explanation or reason for. ∎ (usu. be accounted for) know the fate or whereabouts of (someone or something), esp. after an accident: everyone was accounted for after the floods. 2. supply or make up a specified amount or proportion of: social security accounts for about a third of total public spending.
A written list of transactions, noting money owed and money paid; a detailed statement of mutual demands arising out of a contract or a fiduciary relationship.
An account can simply list payments, losses, sales, debits, credits, and other monetary transactions, or it may go further and show a balance or the results of comparing opposite transactions, like purchases and sales. Businesspersons keep accounts; attorneys may keep escrow accounts; and executors must keep accounts that record transactions in administering an estate.