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.

Rookie Asked on September 10, 2019 in Best Practices.
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6 Answer(s)

See this article (and the associated PDF) in SuiteAnswers.  Pretty thorough IMO.

Processing Employee Advances

Published 02/04/2011 12:54 PM   |    Updated 08/05/2019 08:33 AM   |    Answer Id: 4487
Rookie Answered on September 11, 2019.
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Havent you tried Employee Advances and how they are tied to Expense Reports?

Advanced Answered on September 10, 2019.
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Can you provide specifics on how this is done? Or link to a specific doc/Help section? Sorry pretty new to NS atm.

Rookie Answered on September 10, 2019.
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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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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?

Rookie Answered on September 10, 2019.
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In your shoes I would simply contact NetSuite Support or use SuiteAnswers

Advanced Answered on September 10, 2019.
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