A cash advance is a pre-paid amount of money given by a company to its employee to pay for a known cost. So, instead of asking your employee to pay out of their own pocket, you give them the money before they actually need it.
Here are the steps to create a cash advance.
- In the Navigation Bar, select the Advances.
- Click + Create Advance.
- Fill in all the necessary fields.
4. Once completed.
- Click Save and the Cash Advance will be available in the Advances Overview.
- If your company settings require approval for a cash advance, click Submit. When the cash advance is approved, the user can now use the Paid with a Cash advance as a payment method.
Note: To view the remaining cash advance, go to Advances > Select the Cash Advance > Open Amount.