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  • Dec 10, 2007, 08:30 AM
    BDRH76021
    Offset Accounts
    What is the purpose of an offset account in an accounting system?
  • Dec 10, 2007, 02:36 PM
    rsenn
    Quote:
    Originally Posted by BDRH76021
    What is the purpose of an offset account in an accounting system?
    Generally it is to record an allowance for estimated valuation differences or usage allowances.

    Examples would be allowance for doubtful accounts, accumulated depreciation, and allowances for market value losses in portfolios.

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