Book Account Definition and Legal Meaning

On this page, you'll find the legal definition and meaning of Book Account, written in plain English, along with examples of how it is used.

What is Book Account?

(n) Book Account is the ledger account of a party maintained in the books of account containing all the financial transaction with that particular party during the period in a chronological order or in the order of occurrence of the transaction. It gives a clear and distinct picture of the amount due from or to such party at any time.