Definition

1. Noun:
   • A financial record or arrangement: An "expense account" is a specific type of account, typically provided by an employer, from which an employee is authorized to pay for or be reimbursed for business-related costs. These costs are most commonly for travel, meals, client entertainment, and other necessary expenditures incurred while conducting company business.

Usage

• The primary use is in a business or corporate context to manage and track work-related spending that is not part of regular office operations.
• It functions as a tool for reimbursement or direct payment, separating personal finances from approved business expenses.

Examples

• Noun:
  • The sales director submitted her hotel bills to the expense account.
  • Employees must keep all receipts for charges made on their company expense account.
  • He took the client to dinner and paid for it using his expense account.

Advanced Usage

• "To have an expense account": To be provided with this facility by one's employer, often implying a certain level of seniority or role.
  • In her new position, she finally has an expense account for client meetings.
• "To charge something to an expense account": To record a purchase as a business cost to be paid by the company.
  • You can charge the taxi fare to your expense account.

Variants and Related Words

• Expense (n): The cost required for something; the money spent.
  • The trip was a necessary expense for the project.
• Account (n): A record or statement of financial expenditure and receipts.
  • Please check the account balance.

Synonyms

• Business account: A general term for an account used for commercial transactions.
• Corporate charge account: Specifically indicates an account for charging expenses, often linked to a credit card.

Related Phrases

• Expense report (n): The detailed form or document where an employee lists all expenses to be paid from the expense account for reimbursement.
  • Fill out your expense report and submit it by Friday.
• Per diem (n): A daily allowance for expenses, often used instead of or alongside an expense account.
  • While traveling, you will receive a per diem for meals and incidental costs.

Noun

1. an account to which salespersons or executives can charge travel and entertainment expenses