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A petty cash imprest system is a method of managing small cash expenses in a business or organization. Under this system, a fixed amount of cash is set aside in a petty cash fund, which is used to pay for small and infrequent expenses like office supplies or postage.
Oversight of petty cash [3] is important because of the potential for abuse. Examples of petty cash controls include a limit on disbursements and monthly audits by someone other than the custodian. [4] Use of petty cash is sufficiently widespread that vouchers for use in reimbursement are available at any office supply store.
The terms ‘cash’ or ‘cash assistance’ should be used when referring specifically to cash transfers only (i.e., ‘cash’ or ‘cash assistance’ should not be used to mean ‘cash and voucher assistance’). ‘Cash’ is here applied broadly to include both physical currency and different forms of e-cash/ digital payments, but ...
[10] [5] The accounting equation is the mathematical structure of the balance sheet . Although a general ledger appears to be fairly simple, in large or complex organizations or organizations with various subsidiaries, the general ledger can grow to be quite large and take several hours or days to audit or balance.
A voucher can also be used online in the form of an e-voucher. These types of vouchers can be entered when shopping online and the relevant vouchers value added to your order. It can take the form of any code. Many companies have opted to use voucher codes for the last few years but with a massive incline in use towards late 2008 and early 2009.
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