How do you record cash received for an Employee Advance?
A payroll advance was issued via payroll check using PR Item - Advance in the deduction/addition box on PR check screen. Instead of repaying the advance by deducting from net pay on future paychecks, the employee reimbursed the company with cash. How do I record these monies properly and reflect in PR reports?
To record the payment by an employee perform the following steps: Banking>Make Deposits>If the payment to deposit window appears, click select none>Click OK>In the make deposit window choose the name of the employee in the received from column>In the from account column, choose the asset account for the advance>Enter the amount of the payment>Save.
If this helps, please give a positive rating and mark this answer as solved (click the button under the answer in the lower, right corner). Thanks and have a great day!
____________________________________________________
Herman C. Baptist
http://community.intuit.com/me...
http://www.therylangroup.com
Thanks for the help however on payroll reports the advance still appears as being due and this is incorrect. Do you know some magical way of recording the paid back advance and maintain the integrity of data shown on payroll reports?
