personal accounts

A personal account is a financial record that belongs to an individual or a business, tracking all transactions like deposits, withdrawals, income, and expenses. It provides a detailed view of the account holder's financial activity and current balance. Personal accounts can be in banks, where they hold your money, or in accounting books, helping organize financial information. They are essential for managing finances, preparing taxes, and understanding financial health. In essence, a personal account offers a clear, organized record of how money is received and spent over time.