Applies To: Project Operations for resource/non-stocked based scenarios
A cash advance allows employees to borrow money from their company prior to incurring any expenses. When a requested cash advance is approved and paid, the employee can use the money for the business expenses they may be about to incur.
Create and submit a cash advance request
To create a new cash advance and submit a cash advance request, do the following:
- Under My Expenses, select Cash advances > New.
- On the New cash advance request page, enter the expense purpose and select the location where the expense will be incurred.
- Enter the requested amount and currency, and then select Save.
- When you are ready to submit the cash advance request, on the Cash advance request page, select Workflow > Submit.
Modify a cash advance request
You can modify a cash advance request if it has not been submitted for approval.
- Under My Expenses: Cash Advances locate and select the cash advance that you want to edit.
- Select Edit, and make the necessary changes to the cash advance request.
- Select Save and close.
View cash advance requests
You can review the list of all the cash advances that are in draft, submitted, in review, or paid under My Expenses: Cash Advances.
Approve cash advance requests
Managers or users configured as approvers in the workflow will be able to approve the cash advances submitted to them for review.
- To approve a cash advance, under Process cash advances, select Cash advances for my review.
- Select the cash advance you need to review and select Approve.
Pay cash advances
The following procedure is typically completed by an accountant or a user with accounting permissions.
- To post approved cash advances, select Approved cash advances, and then select Pay and transfer.
- Provide the journal details for the cash advances, and then select OK.
Submit an expense report against a paid cash advance
When you create and submit an expense report for the cash advance that you already received, the expenses will be automatically adjusted against that advance. If your cash advance is greater than the expensed amount, you must return the balance to the company using the Return cash expense category. If the company-paid cash advance is less than the amount that you expensed, the company must reimburse you the balance.
Select cash advances that apply to your expenses
Before you submit an expense report, you can select the cash advance that aligns with the expense transactions on the report. To use this functionality, the following two features must be enabled from the Feature management workspace:
- Expense reports re-imagined
- Ability to map cash advances to expense lines
When these features are enabled:
- You can add one or more cash advances for each expense line.
- The available balance of a cash advance is visible in real time when an expense report is saved. This allows you to process expense transactions and return cash transaction at the same time.
- You can select multiple cash advances for one expense transaction.
- Cash advance reconciliation data is available by using a query.
If you do not use these features, functionality will remain the same, with existing cash advances automatically reduced after an expense is submitted.
You plan to travel from Seattle to New York City for a conference. You create a cash advance request for 3000.00 USD based on the estimated the cost of the conference ticket, flights, hotel, meals, and taxi. You will not be paid unless your manager approves this request. After your manager approves, the requested cash advance is paid as 3000.00 USD into your bank account. You then attend the conference. After completing your trip, you find that the total expenditure was only 2790.00 USD. Select Cash in the Payment method field, and submit your expense for 2790.00 USD. Your submitted expense amount is automatically adjusted against the cash advance of 3000.00 USD that was loaned to you. You now owe a balance of 210.00 USD (3000.00 - 2790.00), which you can return to the company using the Return cash expense category.
Submit and view feedback for