Question

What is 'Imprest System' of petty Cash book???

Answer 1

Here is your answer.......

Under this system,the petty cash cashier is given a definite sum,₹2500, at the beginning of a certain period.This amount is called 'Imprest System'.
The petty cashier goes on paying all petty expenses out of this 'Imprest amount and records them in the petty cash book maintained by him.
At the end of the given period,say after a month,the chief cashier reimburses the amount actually spent by the petty cashier.

Answer 2

Under this system,the petty cashier is a given a definite sum,say ₹10000,at the beginning of a certain period .This amount is called imprest system.