imprest and non imprest system

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capooja (Querist)
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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.

Anil Verma

Anil Verma (Expert)
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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.

Sandeep Dharar

Sandeep Dharar (Expert)
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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.

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