View source for RESERVED PAYMENT ACCOUNT

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== Definitions ==

as its name indicates, is [[MONEY|money]] set aside for a certain destination but not yet sent. [[PURPOSE|Purpose]] of the Reserved Payment [[ACCOUNT|Account]]: to [[PREVENT|prevent]] a [[FALSE|false]] idea of the financial [[POSITION|position]] of the [[ORG|org]] from occurring by providing a place where money awaiting [[DISBURSEMENT|disbursement]] can be placed before it is actually [[PAID|paid]] [[OUT|out]]. Thus removing it from the general accounts and estimates of financial position of an org.
''(HCO PL 4 Mar 65, Reserved Payment Account)''