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What is the effect on the General Ledger of a reconciled employee advance check?

April 26, 2017employee ledger reconciled

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What is the effect on the General Ledger of a reconciled employee advance check?

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When an approved expense report is reconciled with an employee advance check, a journal entry is added to move the expenses from an asset account (e.g., prepaid expense) that was debited when the check was posted to the appropriate expense accounts.