Difference between Account Current & Current Account

Account Current

An Account Current is a running statement of transactions between two parties for a given period which includes interest allowed or charged on various items. It is prepared when frequent transactions regularly take place between the two parties. For Eg. A Consignee prepares an Account Current of the transactions.

Current Account

Current Account refers to an account in a Bank which is opened mostly for Business purpose ie. for depositing and withdrawing cash. Banks generally do not credit interest in Current Accounts.

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