Employee expense transaction
When you release employee advances, expenses, and paybacks in the Employee Expense application, the application sends released status invoice records to Accounts Payable for processing. Employee advances are processed for payment like prepayment invoices, and employee-paid expenses and paybacks are processed like accounts payable invoices. Company-paid expenses remain in the Employee Expense application.
Assume this information about this example:
|
Employee Expense Company-paid portion Employee-paid portion |
150.00 100.00 50.00 |
Company Expense Posting (EE175) Transactions
Company Expense Posting (EE175) creates journal entries to expense distribution accounts assigned to released company-paid expenses. Assume in this example that the company-paid expenses are assigned to one expense account.
| Account Description | Debit | Credit |
|---|---|---|
| Expense Account | 100.00 | |
| Accrual Account | 100.00 |
Invoice Distribution Closing (AP175) Transactions
Invoice Distribution Closing (AP175) creates journal entries in the general ledger accounts assigned to the employee-paid expense distributions. Assume in this example that the employee-paid expenses are assigned to two expense accounts.
| Account Description | Debit | Credit |
|---|---|---|
| Expense Account #1 | 25.00 | |
| Expense Account #2 | 25.00 | |
| Accrual Account | 50.00 |
Payment Closing (AP170) Transactions
After the expense is paid, this program creates general ledger entries for the payment.
| Account Description | Debit | Credit |
|---|---|---|
| EE Accrual Account | 50.00 | |
| Cash Account | 50.00 |