Cash Advance

1. Cash Advance January 2014

2. Cash Advance for Travel • BPM 506-Cash Advance • Who can obtain • Active employee • University student (currently enrolled) employee • Purpose • Travel for University business • Use of University or personal credit card is not available (ex. Outside of the United States) • Expenses could not be paid in advance with other methods (ex. airfare and lodging) • Repayment • Repaid in full within 21 calendar days following completion of trip • Failure to repay may result in payroll deductions or student charge

3. Cash Advance for Subject Payment • BPPM 2:250-Research Participation Compensation • Who can obtain • Employee (ex. Researcher) • Purpose • When it is not feasible or practical to issue University checks directly to the participant • Payment at time of participation • Participant/amount not known in advance • Repayment • Repaid in full within 21 calendar days following end of research • Ongoing research is due 3 months from issuance date of advance • Failure to repay may result in payroll deductions

4. Preparing a Cash Advance • Travel & Expense Module • Navigation: Employee Self-Service > Travel and Expense Center > Cash Advance > Create

5. Preparing a Cash Advance • Fields to complete • Description = Destination or IRB # • Business Purpose = Select from drop-down • Comment = • Travel - Departure and return dates, detailed purpose • Participant payment - Quantity and Amount of payments to participants • MOCODE or Department that will be reimbursing expenses • Details = • Source = ACH • Description = Budgeted item (ex. Per Diem, Transportation, Participant Payment) • Amount = Amount of budgeted item

6. Preparing a Cash Advance • Click “Submit” to transmit your request • If IRB = attach Department Chair Approval Form as attachment to Cash Advance

7. Cash Advance Approval Process • Routed from Employee to their HR Supervisor • HR Supervisor will receive email from T&E • Routed to Cash Advance Coordinator • CA Coordinator will receive email from T&E • Advance is released for payment • Employee will receive email confirming final approval & when payment has been processed

8. Repaying a Cash Advance • Travel & Expense Module • Create an Expense Report • Click “Apply Cash Advance”

9. Repaying a Cash Advance • Apply Cash Advance page

10. Repaying a Cash Advance • Fields to complete • Advance ID = Enter the 10 digit cash advance ID • Total Applied = Enter the amount to be applied to this expense report • The entire cash advance amount is applied by default • Click “Update Totals” • Advance Applied = Sum of CA amounts applied on ER • Employee Expenses = Amount accrued on ER • Due Employee = Amount owed to employee after applying cash advance • Click “OK” to apply the CA and return to the ER

11. Repaying a Cash Advance ER for Research Subject Payment • Attach Verification of Receipts Form

12. Repaying a Cash Advance ER for Travel • Attach Daily Expense Log

13. Repaying a Cash Advance • ER for Travel Reminders • Per Diem=Employee only • Hours in travel status; no receipts • Business Meal=Employee + others discussing University business • Document purpose & attendees; actual cost (receipts>$75) • Budget restrictions • Establish Travel Allowance pre-trip to set total maximum amount to reimburse; cannot limit expense types • Utilize “Expense Adjustment” expense type to reduce ER to trip maximum

14. Expense Report Approval Process • Routed to Project Manager (if applicable) • Project Manager will receive email from T&E • Routed to Fiscal Approver • Fiscal Approver will receive email from T&E • Routed to Prepay Auditor (if applicable) • Expense Report is released for payment • Employee will receive email confirming final approval & when payment has been processed

15. Repay Cash Advance • If expenses are GREATER THAN the amount of the advance, the employee will receive reimbursement for the difference on the ER. • If expenses are LESS THAN the amount of the advance, the employee must return the difference to the department for deposit on a Cash Received Report (CRR).

16. Repaying a Cash Advance • Preparing the CRR to return unused funds • Chartfields = Per T&E Profile • Contact Cash Advance Coordinator if unsure • Account = 132801 • Comments = Original Cash Advance number • Notify Cash Advance Coordinator of the CRR # • They must “Reconcile” the Cash Advance

17. Financial Statement Presentation • No longer uses Expense Advance Loan Fund • Cash Advance - only affects Balance Sheet • MOCODE stored in T&E Profile for Employee • First line of funding from HR if payroll is split funded • Can be changed in T&E by Employee, HR Supervisor or T&E Fiscal Approver • If CA not repaid, this is chartfield for payroll deduction • Once Submitted = Payable (210500) • Once Paid = Receivable (132800) • Once Applied to ER = Receivable (132800) • Unused CA balance = Receivable (132801) • Once CRR posted = Receivable (132801) equals $0 • Expense Report • MOCODE set as Employee Accounting Default, unless changed in ER • Once Submitted = Payable (210500) • Once Paid = Expense (7xxxxx)

18. Questions • COLUM Accounting Services • http://accounting.missouri.edu/ • Accounts Payable -> Cash Advance • Subject Payments -> Subject Payments • COLUM Cash Advance Coordinator • Jennifer Walker • Walkerje@missouri.edu or 882-3051 • T&E Training Guides • https://doit.missouri.edu/training/peoplesoft/financials/travel_and_expenses.html • Online resources and policies are briefly under construction