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 payment tickets, totaling the same amount.

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An imprest system is a method of accounting for petty cash where a fixed balance is kept in the petty cash account, supported by payment vouchers and receipts that total the same amount as the fund. This helps to ensure better control and accountability of petty cash expenses.

An Imprest System Is a Way to Account for Petty