Loan


Imprest – Main Facts about the Accounting System!

But at the same time that kind of replenishment is not taken from your Imprest checking account but from another source...
And it’s very important to be careful here as once the special amount of money is spent your imprest account is not going to be credited anymore and thus it can be concerned as a permanent debt...
At the end of the month all of these dockets are summed up in the total by being deducted from the petty cash float opening showing the amount left in the petty cash float...


In general Imprest system advantages implies a kind of special control against theft and fraud due to the loans usage...
It implies the creation of Imprest account in the form of a financial account system...
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Free Checking Account



The Benefits of Online Checking Account

Those clients who open checking accounts online benefit from it, since they get an opportunity to conduct financial operations with a single click without leaving one’s place...


How to Choose the Best Checking Account

If you are going to open a private checking account, try to find a bank with the best terms...
Some of such banks offer different types of checking accounts depending on clients’ credit history, source of income, etc...


Some banks of the USA, Europe, and Canada offer checking account promotions, presenting some gifts to new clients...
Remember that an account shouldn’t be opened just to get a gift, even an expensive one, since it does not release you from the obligation to keep the balance and pay fees...
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Bookkeeping

This type of cash book usually uses the imprest system: a certain amount of money is provided to the petty cashier by the senior cashier...


Single-entry system

The primary bookkeeping record in single-entry bookkeeping is the cash book, which is similar to a checking (cheque) account register but allocates the income and expenses to various income and expense accounts...
Bookkeeping involves, first of all, recording the details of all of these source documents into multi-column journals (also known as a books of first entry or daybooks)...
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High Interest Checking Accounts



Requirements for Getting High Interest Checking Accounts

Because of the increasing popularity of high interest checking accounts, many financial institutions fight to get their customers’ attention...
By yielding significantly more than from using ordinary accounts, you can have much more benefits from high interest checking accounts...
Therefore, to get high interest checking accounts, you will have to micromanage the account to make sure it is compliant with the bank’s rules...
Make sure you understand what they have in their terms and conditions, since in most cases, you will get less if any of the rules are broken – and you will automatically lose all the privileges to use a high interest checking account...
Remember, that when you open an account with banks, this means that you enter into agreement with them and have to follow their rules...
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Imprest Cash Funds



Each imprest cash fund is to be maintained at its original amount unless it is increased or decreased by obtaining from or returning the proper Form to Procurement Services...


All imprest cash funds are subject to unannounced audits by the Office of University Audits or Procurement Services...
The usual time for Procurement Services to create an imprest cash fund is five business days...
Imprest Cash Funds must not be maintained in checking or other bank accounts without specific authorization from the Treasurer’s Office...
Retail activities open during the weekend/holiday periods need to consider potential increased change fund needs when establishing the fixed amount of the Fund...
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Imprest Checking Account – the Principles of Work!

It is very convenient to have imprest checking account at the office where one employee is responsible for making several monetary transactions...
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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