Accounting Dictionary - Letter A
Advance to employee or officer (also called employee advance) represents a cash payment (loan) made by the employer for the business expenses that are anticipated to be incurred by the employee or officer on behalf of the employer; and the employee is obligated to prove business expenses to the employer. Examples of advances to employees and officers might include the following: for travel (e.g., gas, parking, tickets, lodging), meals, entertainment, professional association memberships, certifications, etc.
Don't see the term you are looking for? Try searching our entire website:
Free Study Notes
Download free accounting study notes by signing up for our free newsletter (example):
We never share or sell your e-mail to third parties.