欧美口爆视频 this Policy
Cash Advances in Travel Status
Policy Number: 22604
Effective Date:
Dec 12, 2017
Last Updated:
Responsible Office:
UM 欧美口爆视频 Controller's Office
Responsible Administrator:
UM 欧美口爆视频 Controller
Policy Contact:
Accounts Payable Shared Services
apsharedservices@missouri.edu
Categories:
- Finance
Menu:
- Scope
- Reason for Policy
- Policy Statement
- Definitions
- Accountabilities
- Forms
- Related Information
- History
- Procedure
Scope
This policy outlines cash advances utilized by employees and non-employees to conduct 欧美口爆视频 business while in Travel Status.
Reason for Policy
The purpose of this policy is to provide guidelines for cash advances for 欧美口爆视频 business needs while in Travel Status in compliance with applicable 欧美口爆视频 policies and IRS regulations.
Policy Statement
Employees traveling on 欧美口爆视频 business may be authorized to obtain a cash advance for minor travel expenses. Every reasonable effort should be made to identify an alternative to the use of a cash advance and limit the amount of the cash advance requested. Alternatives available include direct billing and invoiced payment. There must be a reasonable timing relationship between when the advance is given to the employee, when the travel occurs, and when it is substantiated. There must also be a relationship between the size of the advance and the estimated expenses to be incurred.
Cash advances for travel are generally made to 欧美口爆视频 employees only; advances for 欧美口爆视频 students are permissible, if the student is currently enrolled and the travel is for 欧美口爆视频 business and will be reimbursed from 欧美口爆视频 funds.
Cash advances for the support of travel of other individuals, who are neither 欧美口爆视频 employees nor 欧美口爆视频 students, must be approved by the dean, director, or department chairman whose department is responsible for accounting for the advance request and repayment.
Repayment of Cash Advances
All cash advances must be reconciled, accounted for as an expense incurred during travel, and/or returned (unused funds), within 21 calendar days following completion of the trip. Failure to repay a cash advance within this period may result in a taxable payment outside of the 欧美口爆视频’s accountable plan; and one of the following, including loss of this courtesy may apply:
- the amount being deducted from payroll earnings for employees;
- an assessment to the student's account and/or a charge to the student organization's 欧美口爆视频 account code for students;
- or the amount being turned over to collections agency for non-employees and non-students.
Definitions
Travel Status - time frame required for temporary travel away from employee or non-employee’s regular place of business for substantially longer than an ordinary day’s work.
Accountabilities
Cash Advance Recipient:
- Request cash advance for 欧美口爆视频 business in advance of travel or need.
- Repay cash advance or apply to Expense Report within 21 days following completion of the trip.
Departments:
- Approve cash advances for employees and non-employees, when necessary and reasonable to conduct 欧美口爆视频 business.
- Assist cash advance recipients with repayment and return of unused cash advance funds.
Accounts Payable Shared Services:
- Approve cash advances for employees and non-employees, when necessary and reasonable to conduct 欧美口爆视频 business.
- Monitor and reconcile outstanding cash advances.
Additional Details
Forms
Related Information
IRS Publication 463 -
History
Formerly Business Policy Manual 506 – Cash Advances (revised 9/20/16)
Procedure
Reviewed 2017-12-06