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Imprest – Main Facts about the Accounting System!

Author: Creditor Date: Thu, 12 Aug 2010 07:29:22

Imprest system is an accounting system that came from the United Kingdom and is based on the Imprest account creation in the form of a petty cash system. The main system feature is the fixed amount of money reservation. This system main advantage is that it allows replenishing it once one needs to do it or at the end of a specific period. This replenishment can be done without the Imprest checking account but from another source. The main system term - petty cash - term implies the inactive Imprest general ledger account as far as a set amount is concerned. More >>>

Imprest Cash Funds

Author: Guide Date: Thu, 11 Dec 2014 13:30:04

Both types of Imprest Cash Funds are established at an initial fixed amount, which may be adjusted up or down based on changing departmental needs over time. The cash in the fund plus receipts for expenditures should always equal the fixed amount of the fund. Imprest Cash Funds must not be maintained in checking or other bank accounts without specific authorization from the Treasurer’s Office. More >>>

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