If you've received an advance for upcoming expenses, you can use the issued advance balance to create expenses in Fyle. This article explains how.
Using an Issued Advance
Create a New Expense: Start creating an expense as you normally would, either through the web or mobile app.
Choose Payment Mode:
Web App: In the Payment Mode field, select the issued advance as your payment method. If you have multiple advance accounts, select the correct one. The available advance balance will be displayed.
Mobile App: In the Payment Mode field, select the issued advance.
Complete the Expense: Fill in all other required expense details (amount, merchant, category, etc.).
Save the Expense: Save the expense. The expense amount will be deducted from your available advance balance.
Viewing Advance Balance
You can view your remaining advance balance in the Advances section of the Fyle web or mobile app.
How to View and Use Multiple Advances
While creating an expense, you can view all your available advances in the Payment Mode field in the expense form.
You can select the appropriate advance balance in this field and use it to create your expense. The expense amount will be deducted from the selected advance balance.
Important Considerations
Sufficient Balance: Ensure you have a sufficient advance balance to cover the expense amount. If the expense amount exceeds your available balance, you may need to split the expense or use a different payment method.
Multiple Advance Accounts: If you have multiple advance accounts, select the correct account when creating the expense.
Reconciliation: Keep track of your advance spending and reconcile it against the issued amount.
Policy Compliance: Follow your organization's policies pertaining to advance usage and expense creation.