Understanding How to Prepare Cash Advances

To minimize the impact of business travel on employee personal finances, you can provide cash advances to pay for items such as meals, ground transportation, and gratuities. With PeopleSoft Expenses, you can process cash advances from the initial request through the final payment. Exception processing enables you to cover last-minute emergencies and unplanned situations.

Before preparing cash advances, you must set up:

  • Employees.

  • Cash advance sources.

  • Business purposes.

Field or Control

Description

Status

Depending on your organization's approval and audit policies, PeopleSoft Expenses may assign these values to a cash advance:

  • Approved for Payment: The advance is authorized for payment processing.

  • Closed: The advance is marked for closure.

    You can only close advances that have been submitted, approved for payment processing, but not staged for payment.

  • Denied: The advance was not approved by the approver or auditor.

  • Approvals in Process: If your organization uses an approver and auditor or multiple approvers, and the first approver has approved the cash advance, PeopleSoft Expenses changes the status to Approvals in Process.

  • Paid: Payment processing is complete.

  • Pending: An employee has not submitted the cash advance, or the approver or auditor denied and returned the cash advance to the employee.

    This is the default status for a newly-created cash advance.

  • Reconciled: The cash advance is applied to an expense report, and the employee returned excess funds (if any).

  • Staged: The cash advance is staged for payment.

  • Submitted for Approval: The cash advance is ready for the approval or audit process.