Account 54 " Imprest accounts and letters of credit " records, where applicable, transactions relating to funds managed by imprest administrators or subordinate accountants and transactions relating to letters of credit opened by banks in the name of a third party or an agent of the entity.

This account is debited with the amount of funds allocated to the imprest administrators and L/C holders by crediting a cash account. It is credited with:

• expenses made on behalf of the entity by debiting an account of Class 4 " Accounts receivable and payable " or Class 6 " Expenses ";

• repayments of funds advanced, by debiting an account of Class 5 " Cash and financial instruments ".