Loan


Bookkeeping

For every debit journal entry recorded there must be an equivalent credit journal entry to maintain a balanced accounting equation.[2]

Ledgers

A ledger is a record of accounts...
A ledger takes each financial transaction from the journal and records it into the corresponding account for every transaction listed...
A journal is a formal and chronological record of financial transactions before their values are accounted for in the general ledger as debits and credits...
It may be split into two daybooks: receipts daybook for money received in, and payments daybook for money paid out
  • General Journal daybook, for recording journals
  • Petty cash book

    A petty cash book is a record of small value purchases before they are later transferred to the ledger and final accounts, it is maintained by a petty or junior cashier...
    A double-entry bookkeeping system is a set of rules for recording financial information in a financial accounting system in which every transaction or event changes at least two different nominal ledger accounts...
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    Imprest System – a Loan System Controlling Fraud and Theft!

    S long as the balance of the mount is adequate your petty cash account will not have the problems...
    It keeps a record of the daily transactions performed when dealing with the Petty cash account...
    Moreover, many people use this system in order to save the chief cashier time as they usually write up their cash book or post it into the ledger...


    What is to replenish the imprest system petty cash? So, that means that you cover all the expenses for the cash receipts that were taken against the cash and cut your check for the expenses amount...
    Otherwise in case you can not do it it should be replenished by a guardian that is usually presented by a bookkeeper that can do take the expenses from his own personal account petty cash float...
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    Online Merchant Account



    Before creating your high risk account, it is important to consider the following:

    1. Learn what banks accept your business type
    2. Get to know an agent or another person that will help you establish your account
    3. Fill out the application form knowingly and correctly...
      This will help you get your business approval
    To get the best merchant account, you will need to work with experienced professionals, who have connections with different banks and know all the peculiarities of high risk account management...
    Many large banks readily provide high risk merchant accounts for any payment processing needs...
    However, there’s still a possibility to find the best merchant account that will have great transaction processing tools and outstanding rates...
    It may also include imprest funds that can be used in case of necessity...
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    Imprest Petty Cash – the Main Principle of Petty Cash System!



    So, now you know what petty cash is, so, what is the imprest petty cash? Imprest petty cash system means that the general petty cash ledger account stays inactive...
    Thus, the general ledger petty cash account doesn’t take part in the replenishing process...
    He gets the cash from the certain company checking account getting the cash sum similar to the general ledger account cash amount...
    When the currency is reduced in the petty cash account you get the request to replenish the spend coins and currency...
    Once it is drawn the cash account is credited again...
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    Imprest Account – Purpose, Instructions and Main Facts!

    Usually imprest account implies the purchases less than $100 that can be commited without general ledger petty cash system...


    In case you want to close an imprest account or if the fund is not required anymore it should be obviously closed...
    This form needs to be signed by the person that aiming to create imprest cash account and then it should be approved by another person depending on the establishment – a director, dean and so on...


    As for the Imprest account form you need Blank forms BA-096 and BA-095...


    If you make an Imprest cash account request you need the BA-096 form...
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    Imprest Checking Account – the Principles of Work!

    After the request is approved the general ledger imprest account is created – usually it sets up a bank account and is a “mother” account feeding the cash account...
    It is very convenient to have imprest checking account at the office where one employee is responsible for making several monetary transactions...


    The Imprest checking account report should be given every month to the Imprest fund for a review...
    Each account check should have a sign of two people...
    To replenish the account you should submit the original invoices including the signature and date, attach the summary of your expenditure including check numbers and other stuff...
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