Archive about 'Petty Cash and Imprest System'
Tweet Earlier article on imprest petty cash system refers. Below is a very simple worked question and answer for the reader to enhance the understanding of imprest petty cash system. Question: ABC Enterprise has the following petty cash transaction for the month of January 2012:- Jan Description $ 1 Received from cashier 450.00 2 Cleaning [...]
Tweet Cash Cash is not confined to only currency notes and coins It includes anything that have receivables by banks as an immediate deposits like cheques, traveler cheques, money orders and postal orders. As cash is the most liquid asset hence it is more exposed to the risk of theft. It is therefore necessary to [...]
Tweet PETTY CASH AND THE IMPREST CASH FLOAT SYSTEM Petty Cash Many business normally keeps a small amount of money to meet some small cash disbursements like payment of postage, medical claims, staff traveling claims. As the disbursements are for petty item hence the name petty cash Petty Cash Imprest System Salient features: Under this [...]