Imprest, Petty Cash and Other Revolving Funds

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paticash The meaning of PETTY CASH is cash kept on hand for payment of minor items  Because credit cards and online transactions are common nowadays, petty cash funds are no longer necessary for a healthy business spending  It is prepared by two methods: Ordinary system: In this case, a fixed sum of money is paid to petty cashier for the payment of petty expenses and after spending

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