Programme advances (page 2 of 2)

Accounting for cash advances

There are many ways of accounting for advances. They are described briefly below. For greater detail download Accounting for advances.

The best and simplest way is for the team member to account for how the advance was spent, in full, to the person who advanced the money. This should be done as soon as possible. See Method 1 and 2 in Accounting for Advances.

If however the team member will continue to make payments, a system of refunding the amount spent will simplify accounting. But any unspent advances need to be monitored and checked. See Method 3 in Accounting for Advances.

Do not advance further cash before previous advances have been accounted for. See Method 4 in Accounting for Advances.

Advances are sometimes accounted for to another person. This needs careful monitoring. See Method 5 in Accounting for Advances.