Reconciling Cash Advances
Purpose: Use this document to reconcile cash advances against an expense report where the employee did not use the entire advance. This employee gave you a check to reimburse the company for the difference between their expenses and their cash advance.
Audience: Finance Staff/Expenses
Navigation: Main Menu > Travel and Expenses > Manage Accounting > Reconcile Cash Advance
- Enter Employee Advance ID number, otherwise select Advance Search and provide different criteria to find the Advance ID.
- Select Search.
- Use the Reconcile Cash Advance Report page to reconcile a cash advance. You can compare the cash advance against a submitted expense report to correctly reimburse the employee.
- Use the Accounting Date field to enter the accounting date for Expenses to use to generate new accounting entries for cash advances reconciled through an employee reimbursement.
- If the cash advance is associated with an expense report, Expenses displays the expense report ID, creation date, report status and amounts in the Associated Expense Reports grid.
- If there is no report ID, you can still reconcile the cash advance. For example, if an employee received a cash advance but did not take the planned business trip or did not use all of the cash advance, the cash advance can be reconciled by the employee writing a check to the organization for the total displayed in the Due Company field.
- Use the Number field to enter check numbers and check amounts when the employee submit checks for unused cash advance funds. You can enter multiple checks.
- Select Reconcile.
- If the amount applied to expense reports and total payments received equals the cash advance request amount, Expenses sets the cash advance status to Reconciled.
- Notice the Status has changed to Reconciled and the Payments Received fields is updated with the amount paid.
NOTE: The cash advance is reconciled when the Due Company field reaches zero balance and the reconcile button is inactive.