Money set aside for a specific purpose. An individual’s monthly mortgage payment might include $300 per month for the real estate taxes due at the end of the year. The $300 is said to be put into escrow each month.
Featured Review
"It's hard to pick a starting place to extol the virtues, usefulness, and timeliness of Accounting Coach Pro. I can truthfully say I would pay a good deal more for a subscription having become familiar with its value. I have enjoyed reviewing basic concepts as well as more advanced topics in the easy formats and downloads. Accounting is a second career for me. I was in public accounting for about 9 years and have been a government finance director since 2001. In addition to personal benefit I have found Mr. Averkamp's work extremely useful in training subordinates and making recommendations to students. I applaud Accounting Coach Pro and its creator and give the highest recommendation to anyone looking for a constant tutorial companion or just a good refresher." - Dorrance R.
Join PRO or PRO Plus and Get Lifetime Access to Our Premium Materials
Read all 2,645 reviewsWe now offer 10 Certificates of Achievement for Introductory Accounting and Bookkeeping: