Imprest holder

[Mataracy]

The tern imprest holder means an officer other than a sub-Accounting officer who is entrusted with the disbursement of public money,for which vouchers cannot be presented immediately to a sub-Accounting.

Let's look at the word imprest here.
Imprest : This is a sum of money advanced to an officer to meet expenditure under the current estimates for which vouchers can not be presented immediately to sub-Accounting officer.

Type of imprest that we have namely;

(1) STANDING IMPREST :standing imprest is replenished from time to time and finally retired at the end of the financial year.

(2) SPECIAL IMPREST : This is granted for a particular purpose which must be retired in full within the period allowed or when the service is completed.

 

[Olajidey]

I have been following your post and I can say that you are an accountant or you study something related to accounting in school, I have learned one or two things from what you have been posting. An imprest is a cash account a business relies on to pay for small, routine expenses. It is used to also cover a smaller transaction.

 

[Kingsley]

Impress system is a way of keep or making funds available for effective running of the day to day activities in an organization without going to the cash book, it makes the work much easier for the cashier, so the person that handles the impress is the petty cashier at thr end of the period he or she will be reimbursed.