The Imprest system is a form of financial accounting system. The most common imprest system is the petty cash system. The base characteristic of an imprest system is that a fixed amount is reserved, which will be replenished at the end of a period or when circumstances require. This replenishment is not credited on the imprest account, but from another source. When a sufficient amount is used, the imprest account will never be credited again. As such, it can be seen as a permanent debt.
Read more about Imprest System: Petty Cash Imprest System, Why Use The Imprest System, How Petty Cash Imprest System Works
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“Those words freedom and opportunity do not mean a license to climb upwards by pushing other people down. Any paternalistic system that tries to provide for security for everyone from above only calls for an impossible task and a regimentation utterly uncongenial to the spirit of our people.”
—Franklin D. Roosevelt (1882–1945)