Elton left out rejected record (4)
I believe the answer is:
note
'record' is the definition.
(note can mean to record or notate)
'elton left out rejected' is the wordplay.
'left' becomes 'l' (common abbreviation).
'out' indicates named letters should be taken away.
'rejected' says the letters should be written backwards.
'elton' with 'l' removed is 'eton'.
'eton' in reverse letter order is 'NOTE'.
(Other definitions for note that I've seen before include "Memo - sound - fame" , "Annotation; tone" , "Crotchet or minim, say?" , "Observe, record" , "Short record or letter" .)