imprest and non imprest system
This query is : Resolved
12 September 2016
please tell me what is petty cash imprest and non imprest system (with the suitable example ) and also how to verify petty cash during audit with the help of these system.
12 September 2016
imprest is given to dept. or branches for day yo day exps. and they r informed to maintained exps. statement which shows anytime avbl money bal.
open cash is cash is kept for other than daily exps also say vendor pay, imprest pay, employee adv. etc.
imprest may (not) be on software but open is in software base app.
13 September 2016
Imprest may also be called as an advance. Like if a person need some cash for official work, so he/she must take that cash against Imprest account, and after submission of proper documents of that expenses that imprest account will got credited and expenses account should got debit.
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
- DELIVERY GOLD & SILVER AND OTHER ETF TRADING PROFIT AS BUSINESS INCOME
- GSTR-1A How to update Invoice
- Excess salary payment.
- 3cd- cash system of accounting is allowed?
- Provision for loans that are under Revenue Recovery
- Form 121-contradictory opinions
- APPLICABILITYOF GST ON STUDENT HOSTEL FEES
- Is Personal Guarantee of Director is Compulsory in case of loan to company ??
- TDS on Purchase of Immovable Property by NRI from NRI
- Stamp Paper for partnership firm change new income tax 2025
- Applicability of GST on deduction for cancellation of Pension policy
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
- Address Change to another state of a Registered Trust with 12AB approval
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
