RE: Best Practices for Employee Cash Advance Liquidation?

What is the best practice for properly setting up cash advances and liquidating them in Netsuite? We’re trying to figure out how to specifically associate an employee cash advance transaction to a liquidation so we know which advances have not yet been liquidated.

Currently, we do it by just transacting the cash advance as a Journal Entry and inputting the Employee name in the Advances to Employee account’s transaction line. Then in liquidation, we use Expense Reports that also specify the employee in the line. While this works, it doesn’t really match cash advances specifically to the expenses so it’s difficult to track which advances have been liquidated already. Thanks in advance.

bonns Beginner Asked on September 10, 2019 in Best Practices.
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6 Answers

I just looked for this in the help menu and found it lacking…there is a field on Expense Reports (ADVANCE TO APPLY) that is tied to the Employee Name on the report I just cant recall (10 years ago) how i coded transactions to incur a liability for them to repay

Advanced Answered on September 10, 2019.
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