Employee Advances

Code: 1142
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Account Information

Account Type Statement of Financial Position
Normal Balance Debit

Definition

Cash advances given to employees for business purposes

Sub-accounts

1147

Employee Cash Advances

1148

Employee Travel Advances

International Accounting Standards

IFRS IAS 19 Employee Benefits

Employee advances classified as receivables. Recovered through payroll deductions or repayment.

US GAAP ASC 310 Receivables

Same receivable classification. Allowance for uncollectible advances if recovery doubtful.