Postal Account: A personal account is a building society account in which all transactions are conducted via post. In some cases a pass book is used to record deposits and withdrawals although societies are increasingly acknowledging each of their customer's transactions with a single statement sheet which depicts the amount deposited or withdrawn and the resulting account balance

 

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Postal Account: A personal account is a building society account in which all transactions are conducted via post. In some cases a pass book is used to record deposits and withdrawals although societies are . . . View Full Definition

Medical Savings Account (MSA): A trust that employees of small businesses may establish to pay for out-of-pocket medical expenses.

Medical Savings Accounts (MSA): Savings accounts designated for out-of-pocket medical expenses. In an MSA, employers and individuals are allowed to contribute to a savings account on a pre-tax basis and carry over the unus . . . View Full Definition

Memorandum Accounts: A name for the accounts held in a subsidiary ledger. Eg. the accounts in a sales ledger .