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A petty cash book is a record of small-value purchases before they are later transferred to the ledger and final accounts; it is maintained by a petty or junior cashier. This type of cash book usually uses the imprest system: a certain amount of money is provided to the petty cashier by the senior cashier. This money is to cater for minor ...
A petty cash imprest system is a method of managing small cash expenses in a business or organization. Under this system, a fixed amount of cash is set aside in a petty cash fund, which is used to pay for small and infrequent expenses like office supplies or postage.
Every entry to an account requires a corresponding and opposite entry to a different account. The double-entry system has two equal and corresponding sides, known as debit and credit; this is based on the fundamental accounting principle that for every debit, there must be an equal and opposite credit. A transaction in double-entry bookkeeping ...
Complementary antonyms are word pairs whose meanings are opposite but whose meanings do not lie on a continuous spectrum (push, pull). Relational antonyms are word pairs where opposite makes sense only in the context of the relationship between the two meanings (teacher, pupil). These more restricted meanings may not apply in all scholarly ...
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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. [4] Use of petty cash is sufficiently widespread that vouchers for use in reimbursement are available at any office supply store.
An out-of-pocket expense, or out-of-pocket cost (OOP), is the direct payment of money that may or may not be later reimbursed from a third-party source. For example, when operating a vehicle, gasoline, parking fees and tolls are considered out-of-pocket expenses for a trip.
from Hindi and Urdu: An acknowledged leader in a field, from the Mughal rulers of India like Akbar and Shah Jahan, the builder of the Taj Mahal. Maharaja from Hindi and Sanskrit: A great king. Mantra from Hindi and Sanskrit: a word or phrase used in meditation. Masala from Urdu, to refer to flavoured spices of Indian origin.