Updated Cash Advance Procedures

Summary

William & Mary and VIMS have streamlined cash advance procedures to maximize Workday features and simplify financial processes.

Full Description

William & Mary and VIMS have streamlined cash advance procedures to maximize Workday features and simplify financial processes. These updates aim to enhance automation, lower manual effort, and ensure compliance with IRS guidelines and university policies.  

What You Need to Know 

 

Requesting a Cash Advance in Workday 

• Submit a Spend Authorization in Workday. 
• Attach a signed Acknowledgment of Financial Responsibility form. 
• For travel, cash advances will disburse within 10 days prior to your departure date. 
• For non-travel, submit requests up to 45 days in advance of the event. 

Reconciling the Advance 

• Must be reconciled within 60 days of travel or event completion. 
• Submit an Expense Report in Workday with all required receipts, matched to the original Spend Authorization. 
• Return any unused funds to the Cashier’s Office (Blow Hall) by cash or check. 

Noncompliance 

• Failure to reconcile may result in payroll deduction and classification as taxable income under IRS regulations. 
• All outstanding advances must be resolved prior to an employee’s separation from the university. 

We encourage all employees who anticipate requesting an advance to review the full Cash Advance Policy. If you have any questions about this change, please send them to workdayproject@wm.edu.