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.
Havent you tried Employee Advances and how they are tied to Expense Reports?
Can you provide specifics on how this is done? Or link to a specific doc/Help section? Sorry pretty new to NS atm.
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
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?
In your shoes I would simply contact NetSuite Support or use SuiteAnswers
See this article (and the associated PDF) in SuiteAnswers. Pretty thorough IMO.
