An imprest account is a financial control system used to manage and reimburse petty cash expenses. The responsible person maintains a fixed sum, provides vouchers for spent amounts, and is reimbursed to restore the initial balance.
The Imprest System is a method used to manage petty cash by replenishing the fund to a fixed amount, ensuring better control over minor day-to-day expenses.
An Imprest Fund is a petty cash fund used for minor expenses, maintained at a set balance, and replenished as needed.
Understanding Petty Cash Fund and Petty Cash Voucher: Definition, Usage, and Management
