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The imprest system is a form of financial accounting. The most common is petty cash . [ 1 ] The basic characteristic of an imprest system is that a fixed amount is reserved, which after a certain period or when circumstances require, because money was spent, will be replenished.
Oversight of petty cash [3] is important because of the potential for abuse. Examples of petty cash controls include a limit on disbursements and monthly audits by someone other than the custodian.
The auditors were paid by fees. This made the offices extremely profitable. [2] In 1703, the office had a salary of £300, but the fees were worth at least £700 more. [3] ...
An impressed duty stamp of Western Australia for eleven shillings and three pence, c. 1907 An impressed duty stamp is a form of revenue stamp created by impressing a stamp onto a document using a metal die to show that the required duty (tax) had been paid.