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An imprest fund has a credit balance at all​ times, which equals the sum of ▼ accounts receivable cash in the bank cash in the fund deposits in transit plus the ▼ check stubs credit memos total of the tickets that support payments from the fund. the internal control feature of an imprest fund is that it ▼ clearly debits clearly identifies decreases increases the amount of money for which the fund custodian is responsible.

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An imprest fund has the same balance at all times, which equals the sum of cash in the fund plus the total of the tickets that support payments from the fund. The internal control feature of an imprest fund is that it clearly Identifies the amount of money for which the fund custodian is responsible.

Which equals the sum of cash accounts, the fund deposit in transit plus the total of tickets, which it clearly identifies.

What is an imprest fund?

The imprest fund is a specific amount of fund that is given to the university employees for a specific purpose and includes pretty cash and change funds. This enables the department to make the cash conveniently available for minor expenditures.

Find out more information about the imprest fund

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