imprest a/c
This query is : Resolved
PARVEEN KUMAR
(Querist)
28 July 2009
My Question is whether there is any legal problem if we show imprest account in balance sheet.
My Question is whether there is any legal problem if we show imprest account in balance sheet.
Prakash Kanaka M.P.
(Expert)
28 July 2009
You can show the imprest account in the Balance sheet. There is no legal problem.
1) Make sure that the expenses are booked during the financial year. It should not be kept under Imprest account.
2) If the employees taken tour advance etc make sure that the tour will not be performed allready, If so you have to book the expenses, it should not be lying in the imprest account
1) Make sure that the expenses are booked during the financial year. It should not be kept under Imprest account.
2) If the employees taken tour advance etc make sure that the tour will not be performed allready, If so you have to book the expenses, it should not be lying in the imprest account
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