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Hi all,
What would be the best way to handle advances to staff for travel, etc; at the gl level or within a sub-module?
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If it is not company expenses and we have to pay- One time payment then create Temporary Vendor and make payment.
Thanks
Sandip
Hi,
We deal cash advance through GL, A/c Rec'ble from employees-Balance Sheet. When we make payment to employee for his future expenses. A/c Recible from Employee is Dr. To Cash A/c and once employee back with expenses details then "Expense A/c Dr To Receivable from Employee". Used Reference field for Employee ID and Receipt Book Number to track it.
Thanks
Sandip
Hope that helps in further illustration.
Get the concept, regardless of what is the System.
Just been added up,
I have always considered to use vendor maintenance card for each employee who will be liable for a business advance payment. One the vendor card, under Accounts Payable, you could either assign one account for each employee, or one account for all employees (Employees Payable)
I have come across important proposal on NAV (regardless of the System that is not GP, but the concept is considerable), I highly recommend reading it thoroughly, it does have added value; How to effectively use NAV for employee Cash Advances.
Hope this helps,
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