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Imprest account

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This query is : Resolved

AVINASH PANWAR (Querist)

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.

Thanks in Advance

Sandeep Dharar

Sandeep Dharar (Expert)

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.

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