IMPREST SYSTEM : This is a system for recording petty cash transactions, which are paid out of a cash float.The system is set up by giving a specified sum known as cash float to thecashier in order to cover petty expenses during the period.
PETTY CASH BOOK: This is the book of original or prime entry which is used for recording small disbursements or expenses e.g. postages, stationery, transport etc. it is part of the double entry system. The source documents are invoices, receipts, and vouchers
Click here to ask a question and get an answer published in the forum. Read our disclaimer.
Get paid for every topic you create in: Shoutam.com Forum!