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An imprest account is a type of financial account used to manage and control petty cash expenses within an organization. It operates on a fixed fund system, where a set amount of money is allocated to the account, and expenditures are made from it as needed. When the fund runs low, it is replenished to the original amount, usually by submitting receipts for the expenses incurred. This system helps maintain accurate records and ensures that spending is monitored effectively.
What else can I help you with?
Is the drawing account is a temporary account?
Drawings Account is a Temporary Account
Is capital account is real account or nominal account?
Real Account
Is drawings account is Nominal or Personal account?
Drawings Account is a Nominal Account. Nominal accounts record liabilities, expenses, revenues, capital and drawing. Examples of nominal accounts are loan account, sales account, commission received account, salaries account, rent account, capital account, drawings account etc.
What type of accounts can be used with MandT Web Banking?
M&T Web banking has a checking account, a savings account, a passbook savings account, a CD account, a Holiday/vacation account, a loan account, a mortgage account, an overdraft account, an equity line account, an IRA account, a PMA account and a MTB money market fund account.
Is bank account perosnal account?
yes bank account is personal account
What are the examples of contra voucher?
# Cash account to Bank account # Bank account to Cash account # Bank account to Bank account
Is the drawing account is a temporary account?
Drawings Account is a Temporary Account
Is capital account is real account or nominal account?
Real Account
Is drawings account is Nominal or Personal account?
Drawings Account is a Nominal Account. Nominal accounts record liabilities, expenses, revenues, capital and drawing. Examples of nominal accounts are loan account, sales account, commission received account, salaries account, rent account, capital account, drawings account etc.
What type of accounts can be used with MandT Web Banking?
M&T Web banking has a checking account, a savings account, a passbook savings account, a CD account, a Holiday/vacation account, a loan account, a mortgage account, an overdraft account, an equity line account, an IRA account, a PMA account and a MTB money market fund account.
Is bank account perosnal account?
yes bank account is personal account
Is capital account is personal account or real account?
Capital account as well as Drawings account are Personal accounts !!!
What is meant by countra account?
Contra account is reverse of actual account used to increase or decrease the actual account like depreciation account for actual asset account or drawings account for owners equity account etc.
What is imperest fund system?
The imprest fund system is a financial management method used primarily for handling small, routine expenses. Under this system, a fixed amount of money is allocated to a specific fund, which is replenished as expenses are incurred and documented. This approach simplifies bookkeeping and ensures that cash flow is managed effectively, as expenditures are pre-approved and tracked. It is commonly used in organizations for petty cash or operational expenses.
What is the word for account in norwegian?
account (bank account): konto (bankkonto) account (description): beretning account (basis): grunnlag
Is account a collective noun?
The word account can be a collective noun; an account of ledgers, an account of circumstances, an account of passengers, etc.
How does a loan account becomes NP account?
WHEN A LOAN ACCOUNT BECOME np ACCOUNT
