This page outlines the required procedures to issue a cash advance and settle it. The procedures are done through the Voucher and Deposits modules. Staff conducting cash advances and settlement should ensure they obtain the proper training and system access required for these two ConnectCarolina modules.
To create a voucher:
Main Menu → Finance Menu → Accounts Payable → Vouchers → Add/Update → Campus Voucher Entry
To create a deposit:
Finance Menu → Accounts Receivable → Payments → Online Payments → Regular Deposit
To monitor cash advances:
Main Menu → Finance Menu → General Ledger → Open Items → Review Status Online
|Working with Cash Advances
|This document outlines in detail the procedures related to issuing and reconciling cash advances, including cash advances that were issued prior to ConnectCarolina Go-Live.
|Cash Advances Webinar (~45 mins)
|The Cash Advances webinar outlines in great detail the process for issuing cash advances and settlement. (The above “Working with Cash Advances” document was issued later than the webinar; it is recommended you read through that document first.)
|Cash Advances Cheat Sheet
|This one-pager summarizes some of the key things to note when processing a cash advance.
Outline of Cash Advance Procedures
1. Cash Advance Request – The initial cash advance request is done using a voucher to request the advance amount. This screenshot markup outlines the specific fields in preparing the cash advance voucher. A cash advance voucher requires very specific naming convention. Please follow the screenshot markup closely.
2. Settling a Cash Advance – The settlement of a cash advance also entails doing a voucher. In most cases, the voucher will have a $0 amount, but could be greater if the actual expenses were greater than the advance. An additional university deposit may be required if the advance was not fully spent. The scenarios and procedures are summarized in the following table (click to enlarge):
Settlement Voucher – Settling a Cash Advance-voucher.
University Deposit – Please follow the directions of this screenshot markup (to be uploaded). For return of advances from OSR, send the money to OSR for deposit. It is only necessary to create a deposit for non-OSR advances.
3. Monitoring Cash Advances – Monitoring cash advances is within the General Journal module based on the menu path posted above. Since creating cash advances requires very specific naming conventions, it is easy to search for outstanding advances and whether an outstanding cash advance has been properly settled. For more information, please watch the Cash Advance webinar from 33:30 and on.