What is unretired imprest?

This unretired imprest means that the cash spent has not YET been tabulated in MOF standard and delivered yet.

What is accountable imprest?

An accountable advance is a sum of money advanced to an individual to make change, payments, or disbursements on an on-going basis. Examples of an accountable advance are: Petty Cash, Change Funds, Imprest account, Travel Advance (temporary accountable advance), and Standing Advance.

What is a standing imprest?

standing imprest means an advance of money provided to an officer for disbursement on approved expenditure in instances where vouchers cannot first be submitted to the Accountant- General or a Treasury cashier for payment due to the nature and exigencies of office duties; Sample 1.

What is employee imprest account?

An Imprest payroll account is a separate account held by a corporation that contains funds strictly for employee payroll use. Since this account is only for payroll, the funding is unavailable for use other than with payroll so the deposits entered in by the company are equal to the expected pay of the workers.

What is refund imprest fund?

What is Meant by Imprest? An imprest is a cash account that a business relies on to pay for routine, small expenses. Cashiers regularly replenish funds in the imprest, while ensuring a fixed balance is maintained. The term “imprest” can also mean a monetary advance that is given to a person for a specific purpose.

What are the types of imprest account?

Imprest is of two classes, namely: Standing Imprest, held throughout the financial year and replenished as and when necessary by the presentation of receipt and petty cash vouchers; and.

What are imprest funds?

What Is Imprest? An imprest is a cash account that a business relies on to pay for small, routine expenses. Funds contained in imprests are regularly replenished, in order to maintain a fixed balance. The term “imprest” can also refer to a monetary advance given to a person for a specific purpose.

Who uses the imprest system?

In most cases, Imprest systems are used to account for petty cash (a small amount of money used for expenditure on smaller items, i.e. office supplies, catered lunch, cards for customers, etc.). The key feature of the Imprest system is the fact that all expenditures must be documented.

Who is an imprest holder?

An Imprest Holder is an officer to whom a sum of money is advanced to enable him to effect payments on behalf of Government which cannot be conveniently effected through the Accountant-General or his Sub- Accountants, or by a self-accounting Department direct, e.g. expenses in connection with the franking of letters.

What is the refund imprest fund?

An imprest is a cash account that a business relies on to pay for routine, small expenses. Cashiers regularly replenish funds in the imprest, while ensuring a fixed balance is maintained. The term “imprest” can also mean a monetary advance that is given to a person for a specific purpose.

What is imprest fund system?

The imprest system is an accounting system for paying out and subsequently replenishing petty cash. The imprest system is designed to provide a rudimentary manual method for tracking petty cash balances and how cash is being used.

How many types of imprest are there?