Current Account (Receivables & Payables)

A current account is the running record a business keeps of its receivable and payable relationship with a customer or supplier. For each party, every transaction (sale, collection, purchase, payment, return) accumulates over time into a single balance. In retail and wholesale trade, the answer to "how much is owed to me and how much do I owe" lives in these current accounts.

Tracking current accounts matters because, when kept consistently, it makes cash flow visible, prevents due collections from slipping through the cracks, and reduces reconciliation disputes. For example, a customer who buys on credit at a shop is given a current account; each purchase is posted as a debt, and when the customer pays, the balance decreases so the up-to-date amount owed can be seen instantly.

• Customer accounts: the receivables the business will collect
• Supplier accounts: the payables the business will pay

For businesses that want to follow current accounts in one place instead of scattered notebooks, Welda Stock records sales, payments and balance movements automatically. To learn more, see our guide on digital credit-ledger tracking.