Sales account definition
/What is a Sales Account?
A sales account contains the record of all sales transactions. This includes both cash sales and credit sales. The account total is then paired with the sales returns and allowances account to derive the net sales figure that is listed at the top of the income statement.
The sales account concept can also refer to a current customer. Once sales are made to a customer, it is known as a sales account. Each sales account is typically assigned to either one salesperson (if the account is a small one) or to a team of salespeople (if the account is a major one).