Loan


Imprest Account – Purpose, Instructions and Main Facts!



If you make an Imprest cash account request you need the BA-096 form...


As for the Imprest account form you need Blank forms BA-096 and BA-095...
Pay your attention that the final Imprest account report should be made within 10 days at the end of the month when the fund is intended to be closed...
There you put the stated Imprest cash account sum - $50-$100...
You surely put the number of a person that is going to deal with the account and the name of a department or establishment for which the Imprest account is made, indicating its address, telephone number, describing the frequency of the account usage and the anticipated date of its close...
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Imprest Funds – Discover the Main Principles of that Kind of Funds!



All the Imprest funds are kept in a record with the help of documentation presented by the petty cash dockets or receipts...


Petty cash Imprest funds consider that the custodian should document the way he uses his petty cash...
Then according to the Imprest system main feature this report records how much as spent and how much should be reimbursed....

Why are Imprest funds in the form of a petty cash so popular today? First of all, you have the maximum amount of a petty cash – every establishment or individual has its/his own petty cash limit...
Usually they are used by the agencies if they don’t have an Imprest fund...
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What are the Imprest System Advantages?

In order to control money she deals with her director would use Imprest system petty cash account as all the transactions are documented by special checks that should be then replenished.

  • Moreover, this system makes the procedure of purchasing or paying for any service more simple as using the general check book for small amount purchases may seem a little bit inconvenient...
    That’s why if you are to purchase small amount goods this system is undoubtedly the most convenient one.
  • Those who blow off money will appreciate Imprest fund system that makes it possible the check all the monetary transactions performed as there are that kind pf people that spend money and don’t even know what they spend on and when...
    You are to replenish your Imprest petty cash account within a short period by the end of the month.
  • These are the main Imprest system advantages that it offers to its customers...
    And it is especially helpful if this load is used by the establishment and the custodian is a special person being responsible for the monetary transactions via Imprest system petty cash account...


    There are lots of Imprest system advantages that should be mentioned...
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    Imprest Checking Account – the Principles of Work!



    In general, Imprest system is considered to be a system of loans dedicated to control fraud and theft...
    Moreover, Imprest checking account implies checks you have to collect by the end of the month – thus, all the operations are “transparent” and you know every operation made with your account...


    The Imprest checking account report should be given every month to the Imprest fund for a review...
    All the Imprest checking account payments should be followed by invoices...


    The requests for Imprest bank account opening should be made in the written from explaning the circumstances and reasons of its opening...
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    Imprest Cash Funds



    Original receipts or suitable evidence of payment must be obtained for each cash expenditure or incidental purchase made from an Imprest cash Fund...
    The Imprest Cash Fund represents a loan (or advance) to a department, so the department must designate a custodian to sign the Imprest Change Fund Agreement Form when the fund is established, to safeguard and account for the Fund during its existence, and ultimately repay the advance when the need for the fund no longer exists...
    Imprest Cash Funds must not be maintained in checking or other bank accounts without specific authorization from the Treasurer’s Office...


    Imprest Cash Fund Guidelines

    The following guidelines must be adhered to in the operation and disbursing of Imprest fund cash:

    When a new fund is requested or a new custodian is appointed, whether a Petty Cash Fund or a Change Fund, an Imprest Cash Fund Request/Change Agreement form must be submitted and signed by the new custodian and a Higher Administrative Authority...
    An Imprest Cash Fund Change Agreement must be submitted for a vacation replacement custodian and a new form must be submitted when the original custodian returns...
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    Imprest – Main Facts about the Accounting System!



    So our website is dedicated to the Imprest system...


    Lots of people choose Imprest system as it is a special means that controls all the expenditures providing them with a special sum of money...
    According to the Imprest system principles, the sum spent from the amount should be replenished...


    In other words, the main issue of the Imprest system work is the documentation of the way your petty cash is spent...
    We are going to guide you in understanding the world of various Imprest terms and nuances...
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