Imprest account
This query is : Resolved
Jaspreet kaur
(Querist)
04 July 2008
wat is imprest account....for wat purpose is it opened...? pls give details...is it necessary to open it?
Jaspreet kaur
(Querist)
04 July 2008
h
S.Srinivasaraghavan
(Expert)
04 July 2008
Imprest is an amount entrusted with a person with authority to incurr cretain expenditure regularly say for a business purpose and claim reimbursement thereof so that on each reimbursement the amount is restored to the original amount with which it was entrusted to the person.
CA Anand Sarda
(Expert)
05 July 2008
For Example:
X Ltd gave rs.10000 to the employee for petty expenses. the employee will create a petty cash account called as imprest account. he will debit the account as when he incurs expenditure.
X Ltd gave rs.10000 to the employee for petty expenses. the employee will create a petty cash account called as imprest account. he will debit the account as when he incurs expenditure.
05 July 2008
And if the imprest account is having debit balance then the amount is due from him & if the imprest account is having credit balance then amount is payable to him.
Jaspreet kaur
(Querist)
05 July 2008
if a co has created imprest account in its books...then wat does it imply?
Rajesh Kumar Gupta
(Expert)
11 July 2008
Imprest accounts are those accounts in which opening balance of such accounts whether monthly or annually remains constant
to match the opening balances, the deficeincy in the closing balance is met by introducing fresh amount
Imprest a/cs are opened for cash, stock, bank etc
these are opened to put control on the uses of such assets
to match the opening balances, the deficeincy in the closing balance is met by introducing fresh amount
Imprest a/cs are opened for cash, stock, bank etc
these are opened to put control on the uses of such assets
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Depreciation Chart Companies Act
- GST Audit whether Govt Companies are exempt?
- PTRC Show Cause Notice on Email
- Accounting treatment of AMC alongwith the purchase of Laptop
- Unable to File TDS Q2 Return – New TRACES Portal Error
- Issuing of delivery challan by seller of goods
- Transfer of Physical Stock Between Two Proprietorship Concerns
- MSME disclosure and disallowance
- Not ordinarily resident having partnership income in India and salary in USA is any form to filed be
- EPF ECR NEW RULES Sep 17th 2026
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
