An imprest system is a way to account for petty cash by maintaining a constant balance in the petty cash account,supported by the fund (cash plus petty cash slips)totalling the same amount.

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An imprest system is designed to ensure that the petty cash account maintains a constant balance, supported by the fund (cash plus petty cash slips) totalling the same amount. This system helps to prevent discrepancies in the accounting process and allows for easier tracking of petty cash expenses.

An Imprest System Is a Way to Account for Petty