Petty cash book and imprest system



Petty cash book and imprest system

Petty cash book are maintained under the imprest system that means that the petty cashier starts each period with same amount of money. That means that if the petty cashier was given $100 for one week and at the end of the week he spent $ 70 then the cashier will give the petty cashier only $70 because he just has to maintain the balance which is $100. So, it means that the petty cashier will get $70 instead of $100.






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