Division of Finance
Employees traveling on University business may be authorized to obtain a cash advance for travel expenses only when it is not feasible or practical to use other procurement methods. Cash advances can be obtained on the employee’s University Travel Card or through the Travel and Expense Module (T&E).
Cash advances for travel must be repaid in full within 21 calendar days following the completion of the trip. Full repayment constitutes an expense report in paid status and/or posted cash receipts report applied to the cash advance bringing the balance outstanding to zero. Failure to repay a cash advance within this period may result in payroll deductions, or student charge for student employees, and loss of this courtesy.
Employees conducting research studies in which participants are compensated with cash may also obtain a cash advance through T&E, further explained in Business Policy and Procedure Manual 2:250.
Expanded definition and information for this policy is available under Resources below.
The following procedures assist with ensuring compliance with the above policy:
Cash Advance on University Travel Card
Cash advances can be obtained through an employee’s University Travel Card at an Automated Teller Machine. When an individual uses an ATM machine, the advance will be charged to the individual's University Travel Card account. ATM usage fees for one transaction per University business trip will be allowed by the University.
The employee should then complete an Expense report in T&E to report the use of the cash advance to the appropriate account and department chartfield. The employee can then take the reimbursement from the Expense report to repay the cash advance obtained on the University Travel Card within the repayment period. Failure to pay charges on the University Travel Card in a timely manner may result in late fees for which the employee is responsible.
Cash Advance through Travel and Expense
If the employee does not have a University Travel Card, the employee may obtain a cash advance through T&E. The employee prepares a cash advance, which is routed to the HR Supervisor for approval. The cash advance is reported as an accounts receivable on the payroll chartfield stored in the T&E employee profile, as this is the chartfield used should payroll deductions occur. The cash advance is paid to the employee via ACH.
The employee must then complete an expense report in T&E to report the use of the cash advance to the appropriate account and department chartfield. Within the expense report, the employee is able to apply the cash advance to offset the reimbursement to the employee and repay the cash advance. Once the cash advance is applied and the expense report approved, the accounts receivable on the balance sheet will be reduced and the expense on the income statement will be charged. Unspent cash advance monies must be returned to the department via cash or check (payable to the Curators of the University of Missouri) for deposit on a Cash Received Report.