Requests on My Docs

Expense Advances

Tue, 13 Oct 2020 15:21:01 +0200

Concepts & Definitions

An expense advance is a pre-approved cash payment issued to a staff member to cover anticipated business costs before those expenses are incurred. Common uses include travel advances for field trips, per diems for conferences, or procurement floats. The advance is issued after approval and must later be retired by submitting receipts through an Expense Retirement request — any unspent balance is recovered, and any deficit is reimbursed.

Expense Retirements

Tue, 13 Oct 2020 15:21:01 +0200

Concepts & Definitions

An expense retirement closes out a previously approved expense advance. When a staff member or employee has received an advance to cover business expenses, they must submit supporting receipts to retire (reconcile) the advance once the expenses are incurred. The retirement compares the advance amount against the actual documented expenditure — any surplus is recovered, and any shortfall (where actual spend exceeds the advance) is reimbursed.