IMPREST SYSTEM:-

A system in which a fixed amount is given to petty cashier to cover the petty expenses for the month is called imprest system. In this system the amount remain constant with the petty cashier; petty cashier used this amount against petty expenses. This system is mostly used by big organizations to reduce the work load of main cashier. Let's suppose US$ 1000 is paid to cashier of X organization by the main cashier. Petty cashier made payments against petty expenses of amounting US$ 800, now amount of US$ 800 will be paid to petty cashier; again the petty cash balance with the petty cashier will be US$ 1000.

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