Systems - Overview (page 4 of 7)
Special risks - advances
The term "advance" is used for a number of different types of payment:
- Salary advances and staff loans - avoid if at all possible! More
- Cash advances and floats - reduce the number and size as soon as possible. More
All advances must be recorded. Without records it rapidly becomes very difficult to keep track of advances leading to loss of money and friction between the accountant and team members. See also common problems with advances.
