The total of various columns are posted to the wain cash book. At the end of the period, the petty cashier is re-imbursed with the same amount of cash which he reports having spent during that period. This system of maintaining “Petty Cash Book” is called the “Imprest System”. Under the imprest system maintaining petty cash book, petty cashier is provided with a fixed amount of money known as imprest or float which is sufficient to meet the needs of balancing period. Balancing period the petty cashier is given fresh cheque of the amount equal to his payments during the same period. Thus, in the beginning, every time, he will start with the amount fixed i.e., imprest or float. So this system arrangement is made in such a manner that the cash balance with the petty cashier remains same at the beginning of period.
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