An employee advance form is a document that an employee uses to get an advance payment for the services that he or she is to render in the future. It includes the information about the cash advance being asked for and other data about the transaction that will be done.
You may download our Sample Forms and see which of them has the structure that is usable for this cause. This article contains concrete employee advance form and the attached link may also be used for other purposes other than employee cash advancements.
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What Are the Information in an Employee Advance Form?
A basic employee cash advance form includes the following information:
- the date that the request for a cash advance was made;
- the name of the employee asking for a cash advance;
- the mailing address into which the cash advance may be sent, or the time that the cash advance may be handed personally in the vicinity of the office;
- the department where the employee who asked for a cash advance belongs;
- the extension or the period of service into which a cash advance shall be repaid;
- the account number of the employee should a bank transfer be the process to be used;
- the amount that an employee has requested for a cash advance;
- the reason/s for the cash advance;
- the mode in which the money has been given may it be through cash handling, a check, or a bank transfer;
- the projected dates in which expenses of the employee shall be paid in which will serve as the basis for the release of the cash advance;
- a note that states the agreement of both the employee and the employer about the terms bound in the cash advance process;
- the signature of the employee;
- the date the cash advance form has been signed;
- the name of the approver of the cash advance;
- the signature of the approver; and
- the date when the request for cash advance has been approved.
Employee Advance Agreement Form
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Employee Advance Salary Form
Reasons for Cash Advance
A few of the reasons why employees request for a cash advance are as follows:
- they have personal emergencies that are needed to be paid even before the pay for the cut off will be handed,
- they do not have any budget to spend for the rest of the cut off and need money to be able to go to work, and
- there are unexpected and additional costs that they need to pay.
The Process of Paying a Cash Advance
If you have asked for a cash advance, then here are the ways on how you can pay it:
- You may tell your human resource department to just deduct the entire amount on your next salary pay.
- You have the option to divide the entire amount into portions and ask the human resource to deduct it on a number of cutoffs.
Cash advances are truly helpful especially if you need instant money in a specific scenario. You just have to remember that the amount that you have requested will be deducted on your next pays, so you need to spend the money given as a cash advance wisely. Other than our employee advance form samples, you may also download our Employee Termination Forms.
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