An account that offsets another account.Related Terms: Account 

An account with a balance that is the opposite of the normal balance. For example, Accumulated Depreciation is a contra asset account, because its credit balance is contra to the debit balance for an [..]

Definition An account which offsets another account. A contra-asset account has a credit balance and offsets the debit balance of the corresponding asset. A contra-liability account has a debit balanc [..]

ACCOUNT considered to be an offset to another account. Generally established to reduce the other account to amounts that can be realized or collected.

A Contra Account, in terms of AR financing or Invoice Factoring, is when the Factoring Company’s Client and their Customer (the Account Debtor) each owe the other monies. For example, slotting or advertising fees in retailing. This must be disclosed immediately to the working capital provider so the borrowing base or availability can be adjusted ac [..]

  An account whose balance is a decrease to another account. controlling account

This occurs when two companies are customers and suppliers of each other. Financing these types of accounts are difficult.

Account considered to be an offset to another account. Generally established to reduce the other account to amounts that can be realized or collected.