Definition of Account history:
As an account history shows the complete movement of cash in and out of an account, it is an important tool in many ways. Primarily, it helps keep track of where money is being spent as well as where money is coming in from. An analysis of an individual's account history allows them to reconcile inflows and outflows and balance their account.
An account history is a recording of all the activity that takes place within an account, usually since inception. In a bank account, the account history includes all transactions initiated by the account holder, which would include all credits and debits, as well as passive entries, such as interest on balances, which are credited to the account. The account history is also called a "ledger," depending on where the account is held.
Banks summary statement on the activities of a an account during a particular period, such as a quarter or a year.
How to use Account history in a sentence?
- Bank statements are usually the representation of an account history for a bank account and help individuals reconcile cash movements and balance their accounts.
- Businesses often use customer account histories to make product suggestions or send reminders to reorder products.
- Account histories help credit card companies identify fraud or identity theft.
- An account history is a recording of all the activity that occurs in an account.
- The account history of a bank account shows all of the credits, debits, and interests made in the account by the account holder.
- Federal and local authorities, such as the IRS, when given legal permission, can access account histories to seek out any financial crimes.
Meaning of Account history & Account history Definition