0 a method of keeping an amount of cash in a business for paying small amounts, where a certain amount of money is kept and replaced to the same level at the beginning of each new period --
Hotham wisely appointed a committee of two bankers and the auditor-general to inquire into the position, and this committee promptly advised the abolition of the imprest system.
The most common way of accounting for petty cash expenditures is to use the imprest system.
This type of cash book usually uses the imprest system: a certain amount of money is provided to the petty cashier by the senior cashier.
