What is Sweep Account?
- 2 Answers
- 9035 Views
- D&B, I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Answer / bhupender janmejai
A sweep account is actually a combination
of two or more accounts at a bank or financial
institution. It is useful in managing a
steady cash flow between a cash account
where scheduled payments are made from
and an investment account where the cash
is able to accrue a higher return.
| Is This Answer Correct ? | 12 Yes | 0 No |
Answer / madhulika2011
A bank account that automatically transfers amounts that exceed (or fall short of) a certain level into a higher interest earning investment option at the close of each business day. Commonly, the excess cash is swept into money market funds.
| Is This Answer Correct ? | 2 Yes | 0 No |
what will be entry if fixed deposit mature & bank deduct tds also on it
Explain what are the accounting events that are frequently involved in compound entries?
Why TDS not Deducted on Service tax amount of Rent.
Accounting Questions
what is IPO
A machinery item puchase form M/s. XYZ for the cost of Rs.2,00,000/- with freight charges Rs.20,000/- and installation charges Rs.10,000/- what is the journal entry
4 Answers Chartered Accountant, Sony,
wat is accounting entity
Kindly tell me some journal entry of provision . 1) Make provision for Rs 100 teliphone bill on 31 March 2010. 2) teliphone bill received Rs 150/- on dated 10 Apr 2010. What will be journal entry for both case in tally.
what is meaning of npv(net present value)
how long we keep invoices for recivables and there is any neccesary to keep delivery challans
How to treat company managers personal expenses met by company if he is not taking salary from company and in future salary will be payable after deducting all personal expenses (salary amt will be decided only at paying year). pass journal entries
Do you know any other accounting application?
Audit 
