An imprest system is a way to account for petty cash by maintaining a constant balance in the petty cash account.Cash plus petty cash tickets total the amount allocated to the petty cash fund.

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An imprest system is a method used to track petty cash expenditures by maintaining a fixed amount of cash in a petty cash account. This fixed amount is called the "imprest balance" and is determined by the company based on the estimated amount of petty cash expenses that will be incurred. Petty cash tickets are used to record the details of each petty cash transaction, and the total of these tickets plus the remaining cash balance should always equal the imprest balance. This system provides a simple and efficient way to monitor and control petty cash expenses.

An Imprest System Is a Way to Account for Petty