imprest


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Related to imprest: imprest fund

Imprest

Accounting slang; a small amount of money appropriated for a particular purpose. The imprest is periodically replenished. See also: Petty cash.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

imprest

a system used to control the expenditure of petty cash. An opening balance of petty cash (called the imprest) is made available to cover the petty cash expenses for the next accounting period. At the end of the period, whatever cash has been spent is replenished to restore the petty cash balance. This system tends to limit any losses, for example, via fraud, because the maximum that can be misappropriated in any one period is the imprest or opening balance.
Collins Dictionary of Business, 3rd ed. © 2002, 2005 C Pass, B Lowes, A Pendleton, L Chadwick, D O’Reilly and M Afferson
References in periodicals archive ?
Ottichilo admitted that the imprest issue has been a challenge as staffs do not surrender them on time.
Deposits can be made directly into an interest-bearing account with transfers made periodically to an imprest account to cover disbursements, or funds may be transferred from a noninterest account into one that pays interest, a process sometimes called a "sweep." (An imprest account has a fixed balance in the financial records of the association.
For an officer of her rank to travel to Mombasa, for instance, her imprest is about Sh11,200 per day and the officer allocates herself more than one week in each trip.
The council also approved the resolutions about purchase of security cameras and approval of imprest account for the security section.
The council also expressed deep sorrow and grief on the demise of renowned Naat Khawan Muneeba Shaikh whereas resolutions about the re-organisation of Leprosy Hospital, amendment in the rules and regulations about merger and division of plots of land, restructuring of the pay scale of the paramedical staff of KMC, imprest account of Rs 25,000 each for the office of the leader of the opposition and the leader of the house in city council Karachi, construction of common room, waiting room, wash room and allocation of fund of Rs.
(See also Decorating & Finishing section.) And Ube Machinery will present the latest results obtained with its new Imprest in-mold painting technology.
Updates and consolidates text on the use of imprest funds and third-party drafts; deletes unnecessary cross-references; and relocates to PGI, guidance on the use of unilateral contract modifications and procedures for use of forms for purchases made using simplified acquisition procedures.
The county had outstanding uncollected imprest balances of Sh66.8 million while 11 officers each held imprests of more than Sh1 million.
'In addition to that, the amount allegedly given in bribe was also suspicious, as the office of the presidential aide had been known in the past to receive imprest of 200 million naira and above every month, with no one expected to give account.
The Vice Chancellor told the conference that the financial position of the regional offices has also been strengthened, including enhancement of imprest amount and remuneration for tutors.