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

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

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

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

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

It was almost two o'clock before Miss Cohen handed Abe the statement of the firm's drawing account, and Abe thrust it into his breast pocket.

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