Difference between Account Current & Current Account
Shikha Singh (CA Final Student) (38 Points)
08 November 2010
1 Replies
Devendra
(Chartered Accountant)
(4775 Points)
Replied 08 November 2010
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.
Happy Diwali..!!!
Regards,
Devendra. K
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