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drawing account

noun, Commerce
1.
an account used by a partner or employee for cash withdrawals.
2.
an account that is charged with advances of money for expenses, on salaries, against earnings, etc., especially for sales representatives.
Origin
1825-1835
1825-35
Dictionary.com Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2014.
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Examples from the web for drawing account
  • In many retail stores a drawing account and commissions have replaced straight salaries.
  • The claimant receives no pay or drawing account while in training.
  • The agent or broker is paid on a straight commission basis with no drawing account.
  • If amounts received as a drawing account exceed the commissions earned the tax is payable on the amounts received.
British Dictionary definitions for drawing account

drawing account

noun
1.
(US) an account out of which an employee, partner, or salesman may make withdrawals to meet expenses or as advances against expected income
Collins English Dictionary - Complete & Unabridged 2012 Digital Edition
© William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins
Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009, 2012
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12
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