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

Yeah I saw that field.  I was thinking that field could be like a drop down menu or search type where you can select the specific advances paid reference to the employee. Is there a form specifically for those advances paid or is it possible/feasible to make an Advances Paid to employee in a custom form then link that to the expense report?

Beginner Answered on September 10, 2019.
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