Loan


Imprest Cash Funds

Employees must present a Petty Cash Form (which can be found at http://www.finance.umich.edu/finops/cashier/forms/pettyca shform) signed by a Higher Administrative Authority together with original receipts at one of the University cashiers offices listed below...


Generally, a petty cash fund should be turned over at least 4 times per year...
Although the use of regular University purchasing options such as Purchase Orders, Non-PO Vouchers or the University Purchasing Card (P-Card) is the preferred way to pay for goods and services, Imprest Cash Funds will be approved in limited situations when maintaining a cash-on-hand balance is clearly the best payment option...


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...


When accounting discrepancies occur in the submission of vouchers, Accounts Payable reserves the right to round off credit balances that it considers de minimus in amount...
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Imprest Balance

Imprest Balance Definition

An imprest balance, or petty cash balance, is a form of loans or advances allocated for specific purposes and replenished based on the expenditures...
The imprest balance is a part of a petty cash system used to gather a specific amount of cash for appropriate use...
This is also called a petty cash fund that is usually restored to its original amount at the end of each financial year...
The bank’s petty cash fund must be replenished periodically to ensure the sum’s availability in case of necessity...


As a rule, the petty cash is given to employees in petty cash envelopes to ensure its safety and accountability...
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Imprest Petty Cash – the Main Principle of Petty Cash System!

It means that if you spend $100 from the petty cash balance you will be requested to cover these expenses immediately by the end of the month...
Well, it is a form used as a docket showing the payment made from a petty cash account...
That kind of vouchers should have an area for the date, the paid amount, the space for the indication of the name of the person that takes the cash from the petty cash fund, they often are numbered for better control over the petty cash operations...


Reading this information you may ask what petty cash receipts are...
What is a petty cash? They say that a petty cash is a small cash amount dedicated for small amount purchases that requires a more simple operation that writing a check...
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The Right Way To Use Your Credit Cards

In these cases, you’ll set up a minimum payment each month throughout the 0% period, but then you MUST make sure you pay the balance in full the month before the 0% period ends.

Step 2: Benefit from deferred cashflow

At first, this seems like it does it doesn’t have any benefit...
I actually use the available credit on my cards to act as my emergency fund, which means that I can invest the 3-6 months of expenses I would usually keep in cash in case of emergency...
This flight is usually ?215 return. Therefore, my 8,000 Avios are worth ?180 to me.

With my Amex, I need to spend ?8,000 to earn 8,000 points, and hence for each ?1 I spend, I get ?180/? 8000 = 2.25p back. Therefore, I get the equivalent of 2.25% cashback as this is expenditure that I would have otherwise incurred myself.

Many personal finance gurus often say “no one ever got rich through credit card points”...
When a big emergency hits (which with proper planning it won’t too often), you can pay it with your credit card and then have a few weeks to liquidate any investments you need to cover the balance.

Finally, you actually receive much better financial protection when paying on a credit card rather than a debit card...
And there’s basically only one thing to remember – never fail to pay your balance in full each month!

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Where to Look for Savings Account Options

For this capability, the Synchrony OptimizerPlus Money Market account differs from their savings account by having a slightly lower rate of 0.85% for any balance, and you need to maintain a $1,500 minimum balance to avoid a $15 monthly service charge.

Synchrony OptimizerPlus Money Market Account at a Glance

Understanding Interest Rates
Due to the extremely low interest rate policy (which directly impacts your bank’s savings rates) from the Federal Reserve, low interest rates on savings accounts will be here for a while...
$1,500 is needed to open an account, but simply having a positive balance will waive any monthly fee...
For first-time clients, EverBank is running a yearlong promotion yield of 1.10% on balances up to $50,000 with an additional 1.40% Bonus Interest Rate for the first six-months...
However, the best online savings account will still handily beat out the yield of a traditional bank over the long term.

24/7 Access: You can check your balance, update your contact info, make transfers, and order deposit slips at any time...
For more pressing issues, customer support is also usually accessible 24/7, so you can talk to an actual human instead of your computer screen.

Self- Maintenance: Why drive to a branch and talk to a banker to transfer money, update personal information, make payments, or check your balance? You can perform all of these functions and more from your computer screen or mobile device without even getting dressed.

Superior online and mobile experience: Many traditional banks have been slow to adopt the best web and mobile features to improve the customer experience online...
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Balance sheet



A small business balance sheet lists current assets such as cash, accounts receivable, and inventory, fixed assets such as land, buildings, and equipment, intangible assets such as patents, and liabilities such as accounts payable, accrued expenses, and long-term debt...


A business operating entirely in cash can measure its profits by withdrawing the entire bank balance at the end of the period, plus any cash in hand...


Personal balance sheet

A personal balance sheet lists current assets such as cash in checking accounts and savings accounts, long-term assets such as common stock and real estate, current liabilities such as loan debt and mortgage debt due, or overdue, long-term liabilities such as mortgage and other loan debt...
Bearer biological assets are plants or animals which bear agricultural produce for harvest, such as apple trees grown to produce apples and sheep raised to produce wool.

Liabilities



Equity

The net assets shown by the balance sheet equals the third part of the balance sheet, which is known as the shareholders' equity...


Assets