What does 'On Account' mean

On account is an accounting term that denotes partial payment of an amount owed or the purchase/sale of merchandise or a service on credit. For example, if a firm purchases $5,000 worth of merchandise on account, this refers to the purchase of the goods on credit and a deferral of payment.

Explaining 'On Account'

Most lenders will accept payments on account. All installment payments of any kind, including mortgage payments, could be considered payments on account. Any purchases with credit can be referred to as purchases on account.

Further Reading

Electricity economics: Essays and case studies
www.osti.gov [PDF]
… The beauty of the Dirichlet model lies in its ability to par- simoniously account for several empirical patterns of buyer be … one hand, it could be argued that disciplines that have developed reasonably strong theoretical bases (for exam- ple, economics and finance) will publish …

The financial stability of notional account pensions
onlinelibrary.wiley.com [PDF]
… The beauty of the Dirichlet model lies in its ability to par- simoniously account for several empirical patterns of buyer be … one hand, it could be argued that disciplines that have developed reasonably strong theoretical bases (for exam- ple, economics and finance) will publish …

Implications of behavioural economics for mandatory individual account pension systems
papers.ssrn.com [PDF]
… The beauty of the Dirichlet model lies in its ability to par- simoniously account for several empirical patterns of buyer be … one hand, it could be argued that disciplines that have developed reasonably strong theoretical bases (for exam- ple, economics and finance) will publish …

Capital account liberalization, financial depth, and economic growth
www.sciencedirect.com [PDF]
… The beauty of the Dirichlet model lies in its ability to par- simoniously account for several empirical patterns of buyer be … one hand, it could be argued that disciplines that have developed reasonably strong theoretical bases (for exam- ple, economics and finance) will publish …

Capital account liberalization and financial globalization, 1890–1999: a synoptic view
onlinelibrary.wiley.com [PDF]
… The beauty of the Dirichlet model lies in its ability to par- simoniously account for several empirical patterns of buyer be … one hand, it could be argued that disciplines that have developed reasonably strong theoretical bases (for exam- ple, economics and finance) will publish …

Should the IMF Pursue Capital-Account Convertibility?
ideas.repec.org [PDF]
… The beauty of the Dirichlet model lies in its ability to par- simoniously account for several empirical patterns of buyer be … one hand, it could be argued that disciplines that have developed reasonably strong theoretical bases (for exam- ple, economics and finance) will publish …

A new measure of financial openness
www.tandfonline.com [PDF]
… The beauty of the Dirichlet model lies in its ability to par- simoniously account for several empirical patterns of buyer be … one hand, it could be argued that disciplines that have developed reasonably strong theoretical bases (for exam- ple, economics and finance) will publish …