A closer look at Chrome River Business Expense Cash Advance:
Chrome River Cash Advance allows users to request and receive funds in advance of a busines-related expense – for example, funds needed for upcoming business travel. Prior to the travel date, staff can create an expense report for the cash advance and have it routed automatically for approval based on Humber’s business rules. Approved requests are automatically sent to Banner, and the funds are electronically transferred (EFT) on the next payment run.
During business travel or shortly thereafter, staff can access Chrome River to log the ACTUAL expenses and electronically attach their receipts. Completed Cash Advance expense reconciliation reports are electronically routed for approval, and the approved expenditures are automatically posted in Banner Finance.
End Users:
- Electronic submission replaces the existing paper/PDF-based format
- Submit requests and expense reconciliation reports on any mobile device
- Easily reconcile actual expenses with the cash advance received
- Easily track a submitted cash advance request
- Ability to recall a submitted cash advance request that has not been approved
- Ability to attach supporting documentation for a cash advance request
- Approved cash advance requests are automatically sent to Banner and the funds are electronically transferred (EFT) within the next payment run
Approvers:
- Receive email notifications and electronically approve/disapprove requests – includes mobile devices
- Electronically disapprove/return a cash advance request (i.e. request more information, request for adjustment) during the approval process
- Visibility into the cash advance request and the expense reconciliation report – including supporting documentation
- Streamline the approval process
When can I start using Chrome River Cash Advance?
Stay tuned to learn more about the rollout for Chrome River New Travel and Expense Reimbursement Process next week.
