A cash advance is submitted similarly to other out-of-pocket expenses. However, there are two aspects of a cash advance claim:
- The initial Cash Advance claim will need to be submitted. Once approved, the claimant will be provided with these funds.
- Any items purchased with these funds will need to be submitted as Out-of-pocket expenses.
This article will provide details about Cash Advance claims and how to submit them.
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Not all companies choose to use Cash Advance claims. If in doubt, check with your Finance team.
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Submitting the Cash Advance Request
- From the Cash & Other Expenses page (card or list view) click the ADD EXPENSE button.
The Cash/Other Expense dialog is displayed.
- Select Cash Advances from the Account type drop-down list, as shown in the screenshot below:
- Enter the following information:
- Complete the GL codes that are required.
- Select a date for the Amount required by field.
Note Your administrator may have set a minimum lead time for cash advance requests in which case Zeno Expense will not allow you to select a date any earlier than this. - Enter a reason in the Description field for the cash advance and the Amount Requested. Any additional information can be entered in the Notes and comments field.
- Select a Group. This is the most important information needed when submitting a cash advance request. All subsequent out-of-pocket expenses paid for using these funds will be grouped to reconcile this expense, so choose something relevant to the expense to easily identify the group name. If you do not enter a Group, the system will automatically create one (Cash Advance - Expense - date & time).
- Click the SAVE button.
Once an item has been submitted and approved, two items will be created, the Amount Borrowed, and the Cash Repayment amount.
Reconciling a Cash Advance
To reconcile an out-of-pocket claim against a cash advance:
- Navigate to the Groups tab.
- Filter by your cash advance group name and locate the approved cash advance from the drop-down menu. When you open the request, you will see two claims, one labelled CASH REPAYMENT showing the total advanced amount and the other labelled AMOUNT BORROWED.
- Click the ADD EXPENSE button to add out-of-pocket claims. As the out-of-pocket expenses are added, the claim values will be deducted from the original Cash Repayment amount, as shown in the screenshot below:
As you SAVE each item you will see the CASH REPAYMENT amount adjust to reflect the amount of money you still need to account for. The CASH REPAYMENT amount will disappear when there is no outstanding balance owed by you.
Once you have entered all your claims, click the SUBMIT GROUP button to send the expenses for approval.
Note You cannot submit single items that have been linked to the cash advance group name because all of the items will be in a locked group.
Balancing the claim amount
If the total value of the entered expenses is less than the requested cash advance, you will be notified when you submit the group for approval.
When this happens Zeno Expense will create an additional entry in the claim, REPAYMENT AGAINST, which is equal to the difference between the cash advance requested and the total value of the expenses reclaimed, as shown in the screenshot below:
If the total value of the entered expenses exceeds the originally requested cash advance, the REPAYMENT AGAINST entry will be removed, and the total value will reflect the value you exceeded. Should this occur (depending on internal policies and procedures), once all items have been approved, the additional amount will be reimbursed to the claimant.