Journals and accounts
The management of expenses requires that you use various journals and accounts. For example, for cash advances and credit card disputes, you must determine if the same account is used. An organization might have a separate account that they have set aside to deal with any credit card disputes or send money to an employee for cash advances.
With Expense management, you can set up accounts for different scenarios.
Questions to consider to determine which accounts to use:
- To what ledger journal are the approved expense reports sent?
- Which account is used to make cash advances?
- Should cash advances be posted immediately?