diff --git a/Hledger/Cli/Commands/Register.hs b/Hledger/Cli/Commands/Register.hs
index 7641234d6..e3fde1019 100644
--- a/Hledger/Cli/Commands/Register.hs
+++ b/Hledger/Cli/Commands/Register.hs
@@ -75,12 +75,14 @@ registerReport :: [Opt] -> FilterSpec -> Journal -> RegisterReport
 registerReport opts fspec j = getitems ps nullposting startbal
     where
       ps | interval == NoInterval = displayableps
-         | otherwise              = summarisePostings interval depth empty filterspan displayableps
-      (precedingps, displayableps, _) =
-          postingsMatchingDisplayExpr (displayExprFromOpts opts) $ journalPostings $ filterJournalPostings fspec j
+         | otherwise              = summarisePostingsByInterval interval depth empty filterspan displayableps
+      (precedingps, displayableps, _) = postingsMatchingDisplayExpr (displayExprFromOpts opts)
+                                        $ depthClipPostings depth
+                                        $ journalPostings
+                                        $ filterJournalPostings fspec{depth=Nothing} j
       startbal = sumPostings precedingps
-      (interval, depth, empty) = (intervalFromOpts opts, depthFromOpts opts, Empty `elem` opts)
       filterspan = datespan fspec
+      (interval, depth, empty) = (intervalFromOpts opts, depthFromOpts opts, Empty `elem` opts)
 
 -- | Generate register report line items.
 getitems :: [Posting] -> Posting -> MixedAmount -> [RegisterReportItem]
@@ -100,16 +102,6 @@ mkitem True p b = (ds, p, b)
     where ds = case ptransaction p of Just (Transaction{tdate=da,tdescription=de}) -> Just (da,de)
                                       Nothing -> Just (nulldate,"")
 
--- | Convert a list of postings into summary postings, one per interval.
-summarisePostings :: Interval -> Maybe Int -> Bool -> DateSpan -> [Posting] -> [Posting]
-summarisePostings interval depth empty filterspan ps = concatMap summarisespan $ splitSpan interval reportspan
-    where
-      summarisespan s = summarisePostingsInDateSpan s depth empty (postingsinspan s)
-      postingsinspan s = filter (isPostingInDateSpan s) ps
-      dataspan = postingsDateSpan ps
-      reportspan | empty = filterspan `orDatesFrom` dataspan
-                 | otherwise = dataspan
-
 -- | Date-sort and split a list of postings into three spans - postings matched
 -- by the given display expression, and the preceding and following postings.
 postingsMatchingDisplayExpr :: Maybe String -> [Posting] -> ([Posting],[Posting],[Posting])
@@ -148,6 +140,19 @@ datedisplayexpr = do
   compareop = choice $ map (try . string) ["<=",">=","==","<","=",">"]
 
 -- XXX confusing, refactor
+
+-- | Convert a list of postings into summary postings. Summary postings
+-- are one per account per interval and aggregated to the specified depth
+-- if any.
+summarisePostingsByInterval :: Interval -> Maybe Int -> Bool -> DateSpan -> [Posting] -> [Posting]
+summarisePostingsByInterval interval depth empty filterspan ps = concatMap summarisespan $ splitSpan interval reportspan
+    where
+      summarisespan s = summarisePostingsInDateSpan s depth empty (postingsinspan s)
+      postingsinspan s = filter (isPostingInDateSpan s) ps
+      dataspan = postingsDateSpan ps
+      reportspan | empty = filterspan `orDatesFrom` dataspan
+                 | otherwise = dataspan
+
 -- | Given a date span (representing a reporting interval) and a list of
 -- postings within it: aggregate the postings so there is only one per
 -- account, and adjust their date/description so that they will render
@@ -159,8 +164,8 @@ datedisplayexpr = do
 -- When a depth argument is present, postings to accounts of greater
 -- depth are aggregated where possible.
 -- 
--- The showempty flag forces the display of a zero-posting span
--- and also zero-posting accounts within the span.
+-- The showempty flag includes spans with no postings and also postings
+-- with 0 amount.
 summarisePostingsInDateSpan :: DateSpan -> Maybe Int -> Bool -> [Posting] -> [Posting]
 summarisePostingsInDateSpan (DateSpan b e) depth showempty ps
     | null ps && (isNothing b || isNothing e) = []
@@ -183,10 +188,20 @@ summarisePostingsInDateSpan (DateSpan b e) depth showempty ps
       balancetoshowfor a =
           (if isclipped a then inclbalof else exclbalof) (if null a then "top" else a)
 
+-- | Clip the account names to the specified depth in a list of postings.
+depthClipPostings :: Maybe Int -> [Posting] -> [Posting]
+depthClipPostings depth = map (depthClipPosting depth)
+
+-- | Clip a posting's account name to the specified depth.
+depthClipPosting :: Maybe Int -> Posting -> Posting
+depthClipPosting Nothing p = p
+depthClipPosting (Just d) p@Posting{paccount=a} = p{paccount=clipAccountName d a}
+
+
 tests_Register :: Test
 tests_Register = TestList [
 
-         "summarisePostings" ~: do
-           summarisePostings Quarterly Nothing False (DateSpan Nothing Nothing) [] ~?= []
+         "summarisePostingsByInterval" ~: do
+           summarisePostingsByInterval Quarterly Nothing False (DateSpan Nothing Nothing) [] ~?= []
 
         ]
diff --git a/Hledger/Cli/Tests.hs b/Hledger/Cli/Tests.hs
index 24f62b2bb..9310b7534 100644
--- a/Hledger/Cli/Tests.hs
+++ b/Hledger/Cli/Tests.hs
@@ -572,12 +572,17 @@ tests = TestList [
     l <- samplejournal
     let opts = [Depth "2"]
     (registerReportAsText opts $ registerReport opts (optsToFilterSpec opts [] t1) l) `is` unlines
-     ["2008/01/01 income               income:salary                   $-1          $-1"
-     ,"2008/06/01 gift                 income:gifts                    $-1          $-2"
-     ,"2008/06/03 eat & shop           expenses:food                    $1          $-1"
-     ,"                                expenses:supplies                $1            0"
-     ,"                                assets:cash                     $-2          $-2"
-     ,"2008/12/31 pay off              liabilities:debts                $1          $-1"
+     ["2008/01/01 income               assets:bank                      $1           $1"
+     ,"                                income:salary                   $-1            0"
+     ,"2008/06/01 gift                 assets:bank                      $1           $1"
+     ,"                                income:gifts                    $-1            0"
+     ,"2008/06/02 save                 assets:bank                      $1           $1"
+     ,"                                assets:bank                     $-1            0"
+     ,"2008/06/03 eat & shop           expenses:food                    $1           $1"
+     ,"                                expenses:supplies                $1           $2"
+     ,"                                assets:cash                     $-2            0"
+     ,"2008/12/31 pay off              liabilities:debts                $1           $1"
+     ,"                                assets:bank                     $-1            0"
      ]
 
   ,"show dollars" ~: show (dollars 1) ~?= "$1.00"
diff --git a/MANUAL.markdown b/MANUAL.markdown
index 8abf4110e..6114cd768 100644
--- a/MANUAL.markdown
+++ b/MANUAL.markdown
@@ -240,7 +240,7 @@ Here is the command-line help:
       -C       --cleared          report only on cleared transactions
       -U       --uncleared        report only on uncleared transactions
       -B       --cost, --basis    report cost of commodities
-               --depth=N          hide accounts/transactions deeper than this
+               --depth=N          hide sub-accounts deeper than this
       -d EXPR  --display=EXPR     show only transactions matching EXPR (where
                                   EXPR is 'dOP[DATE]' and OP is <, <=, =, >=, >)
                --effective        use transactions' effective dates, if any
@@ -284,17 +284,24 @@ Examples:
 
 ##### register
 
-The register command displays postings, one per line, and their running
-total. With a [reporting interval](#reporting-interval) it will aggregate
-similar postings within each interval.
-
-Examples:
+The register command displays postings, one per line, and their running total.
+With no [filter patterns](#filter-patterns), this is not all that different from [print](#print):
 
     $ hledger register
-    $ hledger register --monthly -E rent
 
-Note `--depth` doesn't work too well with `register` currently;
-it hides deeper postings rather than aggregating them.
+More typically, use it to see a specific account's activity:
+
+    $ hledger register assets:bank:checking
+
+The `--depth` option limits the amount of sub-account detail displayed:
+
+    $ hledger register assets:bank:checking --depth 2
+
+With a [reporting interval](#reporting-interval) it shows aggregated
+summary postings within each interval:
+
+    $ hledger register --monthly rent
+    $ hledger register --monthly -E food --depth 4
 
 ##### balance
 
@@ -651,8 +658,8 @@ subsequent dates may be written as month/day. Eg:
 #### Period expressions
 
 hledger supports flexible "period expressions" with the `-p/--period`
-option to select transactions within a period of time (like 2009) and/or
-with a reporting interval (like weekly). hledger period expressions are
+option to select transactions within a period of time (eg in 2009) and/or
+with a reporting interval (eg weekly). hledger period expressions are
 similar but not identical to c++ ledger's.
 
 Here is a basic period expression specifying the first quarter of 2009
@@ -729,20 +736,8 @@ accurate running total. Eg, to show the balance since the first of the month:
 #### Depth limiting
 
 With the `--depth N` option, reports will show only the uppermost accounts
-in the account tree, down to level N. This is most useful with
-[balance](#balance) and [chart](#chart). For example:
-
-    $ hledger balance --depth 2
-
-shows a more concise balance report displaying only the top two levels of
-accounts.
-
-It's currently not so useful with [register](#register), eg this:
-
-    $ hledger register --depth 1
-
-shows only the postings in top-level accounts, which usually means
-none.
+in the account tree, down to level N. See the [balance](#balance),
+[register](#register) and [chart](#chart) examples.
 
 #### Prices
 
diff --git a/tests/register-depth.test b/tests/register-depth.test
index 2749e4253..c44ef7bb0 100644
--- a/tests/register-depth.test
+++ b/tests/register-depth.test
@@ -1,18 +1,49 @@
-#
-bin/hledger -f - register --depth 1
+# this matches the second-level account but displays only the first-level name
+bin/hledger -f - register aa --depth 1
+<<<
+2010/1/1 x
+  a:aa:aaa      1
+  b
+
+>>>
+2010/01/01 x                    a                                 1            1
+>>>2
+# this matches the second-level account, displays the second-level name, does not aggregate transactions
+bin/hledger -f - register aa --depth 2
 <<<
 2010/1/1 x
   a:aa      1
   b:bb:bbb
 
+2010/1/1 y
+  a:aa      1
+  b:bb:bbb
+
+2010/1/2 z
+  a:aa      1
+  b:bb:bbb
+
 >>>
+2010/01/01 x                    a:aa                              1            1
+2010/01/01 y                    a:aa                              1            2
+2010/01/02 z                    a:aa                              1            3
 >>>2
-#
-bin/hledger -f - register --depth 1 --empty --monthly
+# this matches the second-level account, displays the first-level name, aggregates by reporting interval
+bin/hledger -f - register aa --depth 1 --daily
 <<<
 2010/1/1 x
   a:aa      1
   b:bb:bbb
 
+2010/1/1 y
+  a:aa      1
+  b:bb:bbb
+
+2010/1/2 z
+  a:aa      1
+  b:bb:bbb
+
 >>>
+2010/01/01 - 2010/01/01         a                                 2            2
+2010/01/02 - 2010/01/02         a                                 1            3
 >>>2