08 April 2014
Dear Sir, please tell me about imprest A/c, I am working in logistics company, here director of company incurred petty cash exp. from their pocket, they called me about create of imprest a/c, they first incurred petty exp. From their own pocket thereafter fund transfer in his account from company bank account.
08 April 2014
Yes imprest means the same. Suppose u r ordered to purchase computer accessories for the company, & u take some cash from the company, so at that time it will b debited to imprest account, & in any casualty like cash stolen by u or cash lost by u or like that case then it will b deducted from ur pay by the Company.
After purchase of the accessories the amount will b debited to the respective ledger head by crediting imprest A/c. In this way Imprest A/c balance will show a NIL figure.
CAclubindia
