[ Travel ]
Reconcile a Travel Advance
Payment Options :|: Travel Advance
When reconciling advances the traveler has to complete a Travel and Entertainment
Expense report (C-1 Form) and provide original receipts to document that the monies advanced have
been spent on specific costs relating to a trip or event.
Part I. Payee Information
Complete the top portion of the form including the
Business purpose of trip or event
Destination
Beginning date
Ending date
Part II. Record of Expenses
Complete the second section listing all the expenses incurred for a trip or event.
Part III. Expense Reconciliation
When completing Part III of the Travel and Entertainment Expense report, there are
three ways you can account for an advance:
- Zero balance. If the advance is reconciled completely, we call this a “zero” balance.
Show the “Grand Total of Expenses” on the form and show the corresponding advance.
With a zero balance the advance should match the amount spent. In the “Balance Due”
section put “0.00.” The advance has been reconciled and nothing more needs to be done.
- Balance due Payee. If the person who got the advance spends more than the advance,
then that person is due additional monies. Enter the “Grand Total of Expenses” less the “Advance”
and the difference is the “Balance due Payee.”
- Balance due University. If the person who got the advance did not spend all the monies
provided, they need to return the monies not spent. They give those monies back to the Business
Administrator. The Business Administrator prepares a deposit slip and deposits those funds back
into the account.The BA prepares a Travel and Entertainment Expense report showing the grand total is less than
the advance. The difference is shown under “Balance due University.” A copy of the deposit slip is
attached showing that the monies have been returned to the University. The advance is then
considered reconciled and a “0.00” is placed under “Balance due.”
Part IV. Accounting Information
Make sure the form contains the “Balance Due” along with the 26 digit number
where you want any additional amounts to be charged.
Part V. Approvals
Make sure the form has been signed and embossed by the appropriate business administrator.
Failure to account for any advance in a timely manner
Failure to account for a travel or entertainment advance within the prescribed
time frame will result in 1) no future travel advances being granted to the
individual, and 2) will initiate the following collection process:
- After 30 days a Reminder Notice is sent to both the traveler
and the business administrator advising them that an outstanding advance exists.
- After 60 days from the Ending Date listed on the Advance, a 2nd
Notice is sent out to both the traveler and the business administrator
advising them, if the Advance is not reconciled within two weeks,
action will be taken to 1) charge a student's bursar bill or 2) deduct the
amount from the employee's paycheck.
- After 75 days from the Ending Date on the Advance a Final /
Action Notice is sent out and action is taken.
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