Settle a cash advance
The employee advance is settled with expense claims and the refund of unused funds.
Before you start
- A paid advance with the status Open.
- Receipts for what was paid from the advance.
- To record a refund, an active cash or bank account.
Steps
Step 1: Open the advance
On Home, under My essentials, choose Cash Advance and open the advance with the status Open.
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The detail of an Open cash advance with the next step to record expenses.
Step 2: Record expenses as a linked claim
Click Add expense claim. The Settle an expense form opens, already linked to this advance. Fill in the purpose, expense items and receipts, then click Submit claim. The claim follows the same approval route.
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The Settle an expense form with the Cash advance settlement note.
Step 3: Record the refund of unused funds
If unused funds are returned to the company, Finance opens Settlement and refunds, clicks Record refund, then fills in the Amount, Refund date and Received in.
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The Record refund dialog with amount, date and receiving account.
Step 4: Check the remaining balance
In the Settlement record, compare Funds paid, Recorded settlement and Remaining balance. The advance is fully settled when the remaining balance is zero.
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The settlement record with funds paid, recorded settlement and remaining balance.
When you are done
- An approved linked claim posts the expense against the employee advance. It is not paid again as a reimbursement.
- A refund increases the chosen cash or bank account and reduces the remaining balance.
- Remaining balance = funds paid less approved linked claims and refunds.
Common problems
The Add expense claim button is missing
Linked claims can be added once the advance payment is recorded. Make sure the advance is marked as paid in the Payment Schedule.
Spending is more than the advance
Submit the difference as a normal expense claim from My essentials › Expense Claim, so it is paid as a reimbursement.
A message says there is no active cash or bank account
Add or activate a cash or bank account in Cash & Bank first, then record the refund.
Something still unclear?
Ask us on WhatsApp. The Finday team replies during office hours and can walk you through it in your own account.