drawing account

American  

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.

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drawing account British  

noun

1. an account out of which an employee, partner, or salesman may make withdrawals to meet expenses or as advances against expected income

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Etymology

Origin of drawing account

First recorded in 1825–35

Example Sentences

Will go after Hitler . . . must have $100,000 drawing account.

From Time Magazine Archive

There a coolly competent professional international staff delivered a stern lecture, exacted a promise of reform, gave a small drawing account of $37.5 million in the hope that Brazil would go and sin no more.

From Time Magazine Archive

He had a drawing account on the British Treasury, could charge his costs against a still hypothetical future.

From Time Magazine Archive

Artist Blythe turned them all over to Gillespie's, got a permanent drawing account in return, never took more than $5 at a time.

From Time Magazine Archive

Eventually, however, he managed to turn the trick, got a drawing account, set out to interview Sun Yat-sen's widow, the delicate Soong Ching-ling; Borodin, the Russian adviser to the Kuomintang; Eugene Chen, who had been Sun Yat-sen's secretary, and other figures in the Chinese Revolution.

From Time Magazine Archive