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Home > QFINANCE Dictionary > Definition of imprest account

Definition of

imprest account

Accounting

type of petty cash record in the United Kingdom, a record of the transactions of a type of petty cash system. An employee is given an advance of money, an imprest, for incidental expenses and, when most of it has been spent, he or she presents receipts for the expenses to the accounts department and is then reimbursed with cash to the total value of the receipts.

Definitions of ’imprest account’ and meaning of ’imprest account’ are from the book publication, QFINANCE – The Ultimate Resource, © 2009 Bloomsbury Information Ltd. Find definitions for ’imprest account’ and other financial terms with our online QFINANCE Financial Dictionary.

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