Discuss the advantages of using an imprest payroll account.

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Discuss the advantages of using an imprest payroll account.


Answer:

The advantages of an imprest account are that it limits the client’s exposure to payroll fraud, allows the delegation of payroll check-signing duties, separates routine payroll expenditures from irregular expenditures, and facilitates cash management. It also simplifies the reconciliation of the payroll bank account.

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