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Glossary / Also known as

Checking account

Another name for Current Account.

Other names
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What does checking account mean?

Checking account is another name for Current Account. The business bank account - unlimited transactions, no interest, and the backbone of every company's financial operations.

The two names mean the same thing. You will see "checking account" in some ledgers, reports and contracts and "Current Account" in others. The full entry covers how it works, with examples.

Read the full definition of Current Account

Topics

From the glossary

Related terms.

Payments and banking Current Account The business bank account - unlimited transactions, no interest, and the backbone of every company's financial operations. Also called business current account, checking account GST basics GST (Goods and Services Tax) India's unified indirect tax that replaced multiple central and state levies, creating a single national market for goods and services. Also called Goods & Services Tax Working capital Overdraft A credit line that lets you spend more than your bank balance - interest only on what you use, for as long as you use it. Also called overdraft facility, OD limit, bank overdraft Bank reconciliation Bank Reconciliation Statement The detective work of matching your books against the bank's records to find every missing rupee. Also called BRS, bank reconciliation, bank rec TDS TDS (Tax Deducted at Source) A system where the payer deducts income tax at prescribed rates before paying the payee, and deposits it with the government on the payee's behalf. Also called withholding tax, tax deduction at source, tax withheld at source Payments and banking ACH Transfer Batch-processed electronic bank transfers powering payroll, EMIs, and recurring payments across India. Also called Automated Clearing House transfer, ACH payment, ACH
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