Accept some money for watch (4,4)
I believe the answer is:
take note
'watch' is the definition.
(thesaurus)
'accept some money' is the wordplay.
'accept' becomes 'take' (to accept is to take possession of).
'some money' becomes 'note' (a bank note).
'take'+'note'='TAKE NOTE'
'for' is the link.
(Other definitions for take note that I've seen before include "mark?" , "what the stenographer does" , "Pay attention" , "Observe and absorb - jot it down" , "Observe closely" .)