2:240 Cash Advances
Adopted Date: August 2011
Revised Date: 08/18/2016; 11/05/2018; 01/07/2026
Responsible Office:
Division of Finance and Business Services
Policy Statement
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 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 a posted cash receipts report applied to the cash advance, bringing the outstanding balance to zero. Failure to repay a cash advance within this period may result in payroll deductions, student charges 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, as further explained in Business Policy and Procedure Manual 2:250.
Expanded definition and information for this policy are available under Resources below.
Procedures
The following procedures assist with ensuring compliance with the above policy:
Cash Advance through Travel and Expense
If the employee does not have a University One 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 can apply the cash advance to offset the reimbursement and repay the cash advance. Once the cash advance is applied and the expense report is 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.