Definitions for "OFFSET ACCOUNT"
Keywords:  fbm, savings, earns, account, thereby
is an account that is setup for elimination of a long or short position by making an opposite transaction.
A bank account linked to a home loan. There are generally two types of Offsets. 100% Offset and Partial Offset. The 100% Offset is the better option.
A field that appears on the FBM091, Report of Transactions, and on inquiry screen 023, Transaction Inquiry, to identify the account on the other side of an entry posted as a simple journal entry (transaction codes 060 through 069 ) or a budget transfer (transaction code 022).