IMPREST ACCOUNTANT Meaning and
Definition
-
An imprest accountant refers to an individual responsible for managing a pre-determined fund or cash advance, typically known as an imprest account. Imprest accounts are designed to fund recurring and regular expenses within an organization, such as office supplies or petty cash.
The imprest accountant is entrusted with the responsibility of ensuring that the imprest account is adequately funded, accounting for any disbursements made, and reconciling the account accordingly. They play a crucial role in accurately recording and tracking expenditures made from the imprest account, ensuring that the account remains balanced and fully accountable for all transactions.
Furthermore, the imprest accountant is accountable for documenting and reporting any discrepancies, making proper adjustments, and maintaining meticulous records of all receipts and disbursements. They may also be responsible for periodically replenishing the imprest account and verifying that the funds have been utilized for approved purposes.
This position may require excellent organizational skills, attention to detail, and proficiency in financial management. Imprest accountants often work closely with other departments or individuals to ensure transparency and compliance with financial policies and procedures.
In summary, an imprest accountant is an individual responsible for managing and reconciling a designated fund or imprest account, overseeing its usage, and adhering to organizational guidelines and regulations.
Common Misspellings for IMPREST ACCOUNTANT
- umprest accountant
- jmprest accountant
- kmprest accountant
- omprest accountant
- 9mprest accountant
- 8mprest accountant
- inprest accountant
- ikprest accountant
- ijprest accountant
- imorest accountant
- imlrest accountant
- im0rest accountant
- impeest accountant
- impdest accountant
- impfest accountant
- imptest accountant
- imp5est accountant
- imp4est accountant
- imprwst accountant
- imprsst accountant
Etymology of IMPREST ACCOUNTANT
The term "imprest accountant" comes from the combination of two words: "imprest" and "accountant".
The word "imprest" is derived from the Old French word "emprester", which means "to lend or advance". It was later borrowed into English during the 15th century. In accounting and financial contexts, "imprest" refers to a system where a fixed sum of money, known as an imprest fund, is advanced to a person for the purpose of making small incidental expenses or providing change in transactions. The imprest fund is replenished or topped up when it is running low, maintaining it at its original level.
The term "accountant" originated from the Latin word "computare", which means "to calculate or reckon".
