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Advance – Key Points – Public
- Definition: Money advanced to an employee generally before a trip takes place.
- Currency and supply: Foreign or local currency via cash or bank transfer into employee bank account.
- An employee will have to account for expenditure by providing invoices/slips or receipts of purchases.
- Advance supplier: Generally issued by the company’s finance department to the employee.
Types:
- Fixed Amount – Make use of the New Daily Advance Tab –Â calculated on a per day/night rate.
- Variable Amount – Make use of the Forex/Advance Tab.