Accrues

To accumulate or receive something over time, typically referring to benefits, profits, interest, or debts. It implies a gradual increase or build-up. The process is often slow and continuous, representing the addition of something to an existing quantity or balance. 'Accrues' can be used in financial, legal, and general contexts to describe the growth of value, obligations, or advantages through the passage of time or the occurrence of specific events.

Accrues meaning with examples

• Interest on the savings account accrues daily, steadily increasing the balance over time. The longer the money remains in the account, the more interest it will gain, demonstrating a passive growth that allows your money to make money with minimal action.
• The company's benefits package accrues with each year of employment; the employee receives more vacation days and other perks. This incentivizes long-term commitment and rewards loyalty to the firm, cultivating a stable and experienced workforce.
• Due to the delays, additional late fees **accrued** on the overdue invoice, increasing the total amount owed. Missing deadlines can compound your debts and negatively impact your financial standing, creating a cycle of obligations.
• As the project progressed, the experience and expertise **accrued** by the team proved invaluable. The gained knowledge facilitated smoother operations and the development of innovative solutions.