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

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

With the seven-year accrual of $160,000 in his drawing account and his usual pearl-grey fedora on his head, Turfman Widener set out for Europe last year to scout for bargains.

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

Miss Cohen," he said at length, "get out them statements which I told it you yesterday, and so soon you got the drawing account finished, let me have it.

From Potash & Perlmutter Their Copartnership Ventures and Adventures by Glass, Montague