Glossary · Austria and Germany
Current-account settlement
Current-account settlement means an agreed running account in which mutual claims and performance are periodically offset and a balance established. A customer account in accounting software is not automatically such a legal arrangement.
Distinguish the concepts
An open-item list adds accounting entries. A current-account agreement may instead determine how claims enter the running account and when the balance is settled. The balance, underlying entries and corrections must remain traceable. A bank current account and a trading-partner arrangement should not be equated merely because similar terminology is used.
Jurisdiction and scope
Austria and Germany apply their own commercial rules. Before handover, establish whether the arrangement actually exists and which claim is being asserted. An exported total without agreement and transaction history does not establish every legal effect. Interest and objections also need a clear allocation.
Illustrative business example
Two businesses supply each other and reconcile quarterly. Before submitting an unpaid balance, accounts collects the agreement, individual entries, credits and statements. It includes a payment received after closing the period. This supports assessment of the current balance and avoids pursuing items already resolved elsewhere.
Common questions
Is every customer ledger a legal current account?
No. Accounting presentation does not replace the relevant agreement and conditions.
Which amount should be submitted?
It depends on the agreement and claim. Do not pursue individual invoices and the same balance twice.
What supports the balance?
Agreement, periods, traceable entries, balance statements and subsequent payments or corrections.
Related topics
Sources and basis
Content reviewed on 23 September 2026. Procedural information and our contractual terms are separate foundations. The individual case remains decisive.
Your next step
Prepare your documents and use the existing registration. For questions about the scope of services, visit our contact page.
Received a letter as a debtor? Please go directly to the payment portal.