Imprest is a cash account on which a business relies for paying off small or minor expenditures and the amount is replenished by the cashier who... View Article
It can be calculated using the following formula Cash in petty cash box = Petty cash at starting - Vouchers = ₹300 - ₹165 = ₹135 Also read:... View Article
PCV stands for Petty Cash Voucher. It is used as a receipt in case of withdrawal from the petty cash box. Also read: Cash Book Cash Flow... View Article
The other type of petty cash book that is present apart from simple petty cash book is the columnar or analytical cash book. Also read: Cash... View Article
The other name for columnar petty cash book is analytical petty cash book. Also read: Cash Book Cash Flow Statement Ledger in Accounting... View Article
No, imprest is not a type of cash book. It is the system of cash reimbursement that is made by the chief cashier to the petty cashier for the... View Article
An imprest amount is the amount that is provided to the petty cashier by the chief cashier at the starting of an accounting period. It remains... View Article
Petty cash funds should be reimbursed at the end of an accounting period or as and when the balance becomes low. Also read: Cash Book Cash... View Article
The disadvantages of the petty cash book are as follows: Petty cash is prone to accounting errors due to a lack of any kind of documentation... View Article
The petty cash account is a current asset and is recorded as a debit in the balance sheet. Also read: Cash Book Cash Flow Statement Ledger... View Article
The petty cash book is maintained by the petty cashier. He is the one responsible for recording the petty cash transactions in the petty cash... View Article
No, books are exempted from GST. Also read: MCQs on GST Learn about more commerce questions and answers from different topics in business... View Article
The advantages of a petty cash book are as follows: Minimises labour It is easy to record transactions in a petty cash book Avoids confusion... View Article
There are two types of petty cash books that are most commonly used: Imprest petty cash book Columnar or Analytical petty cash book Also... View Article
The difference between a petty cash book and a cash book is that a petty cash book is used to record small and repeated transactions whereas a... View Article
Two useful features of a cash book are as follows: It functions as a journal as well as a ledger. It can be used as an alternative to the... View Article
Processed fruit products like jam and jellies attract a GST of 18%. Also read: MCQs on GST Learn about more commerce questions and answers... View Article
