Advance Custodians
If you request advances, such as a cash advance for human subjects, travel or a program, you’ll want to review the revised and updated policy and procedures for setting advance due dates and due date extensions.
The cash advance due date is calculated based on the end date entered on the advance request in Chrome River. The end date may not be prior to or the same as the date of the request. The lifespan of an advance must not exceed 18 months. The advance must be closed and reconciled within 18 months of the request date. This rule is an IRS requirement.
It is important to carefully consider the dates entered in Chrome River when requesting an advance. Due dates of advances are used to ensure the timely closing of advances.
- Cash Advance must be closed within 15 days once it reaches its due date.
- Cash Advances that go beyond the 15-day window must be addressed with University Payables immediately.
- Cash Advances not closed within 60 days of the established due date may be subject to penalties and formal collection activities. If collection activities are unsuccessful, the outstanding amount may be reported as taxable income to the custodian of the advance in accordance with IRS regulations.
Due Date Extensions
- The due date extension can be granted to address unforeseen circumstances.
- The due date for a cash advance must not be granted for a period longer that 18-months past the issue date of the advance.
- A cash advance due date extension request must be endorsed by the unit head.
- A request for a due date extension will be granted based on the following criteria:
- Written justification from the custodian of the advance and submitted to the department business manager/reviewer.
- Written approval of the requested due date extension and justification or the request from the department business manager/reviewer.
How to submit a due date extension request
- An approved due date extension request should be submitted via a ticket to the UPAY service desk.
- Unit approvals should be attached as justification for review.
- All communication regarding the extension request, including the status of the UPAY approval, will be provided via the assigned ticket number.
Subscribe today
To make sure you keep up on the latest information, be sure to opt into future communications about the Chrome River application by subscribing to the email distribution list for University Payables.
Contact
If you have questions about Chrome River, please use the Service Request Form. For Chrome River Specific issues and feedback, please select University Payables (Invoice, Vendor ID, Travel, PCard), which will enable you to specifically select Chrome River Inquiries.
