Leaning Online

Travel Adva nces  are those  Expenses which are  paid in advance to employees, who traveled or visited for business purposes, to meet travel related expenses such as Travel Expenses, Meals Expenses, etc. Travel Advance is paid to employees for meeting their travel expenses such as travelling expenses, meal expenses, etc., Employees visits to different events for promoting company marketing and other business matters. Travel Advances are examples of Prepaid Expenses and treated as Current Assets to be shown on Balance Sheet as the company paid advances to employees against which the company will received the benefits i.e., a sales manager visit to university event in order to make marketing campaign to promote the company’s products and brand name in the mind of students. According to the Rules of Debit And Credit , the normal or usual bala nce of Travel Advance is de bit, however, when it is incurred we debit it and when it is tr...