imprest amount

A constant or unchanging amount that is often used when referring to petty cash. For example, if the petty cash account in the general ledger has an imprest balance of $100, the account balance will be a constant $100. The journal entry to replenish an imprest petty cash fund involves debiting each of the expenses involved and crediting cash (not Petty Cash) for the amount necessary to get the actual cash on hand equal to the imprest amount. Any difference in these amounts is entered into the account Cash Short and Over.