Do you still accept cash as a form of payment in your business?
I want to talk to you about why you might want to consider going cashless. In a cashless situation, you don’t ever have to worry about going to the bank and having a certain amount of change or ones or any cash on hand. You also don’t have the problem of security of dealing with the cash. And if you have employees, you don’t have the problem of cash evaporating.
I have not used cash to pay for something on purpose in many, many years. And I don’t think I’m an unusual case. Most people carry a credit card, now with the advent of Apple Pay and Google Pay, make sure you’re able to accept those.
But most people prefer not to carry cash. There are some older populations who still deal with cash and many think that they’re helping you get away with something and not reporting in taxes. Please don’t do that, you’re just devaluing the value of your business by doing that.
So think about, should I just get rid of dealing in cash and heaven forbid I hope we’re past the days of accepting checks. Nobody should be doing that anymore in a business situation there’s just no need for that.
So look at the methods of payment that you accept and determine whether your business can go cashless now.
I’m Donna Bordeaux from Calculated Moves. Please follow us on Facebook, Instagram, and LinkedIn. Make sure you check out our blog and website from the link below. Subscribe to our YouTube channel and hit the bell to be notified when we post. To contact me, email me at donna@calculatedmoves.com
Donna Bordeaux, CPA with Calculated Moves
Creativity and CPAs don’t generally go together. Most people think of CPAs as nerdy accountants who can’t talk with people. Well, it’s time to break that stereotype. Lively, friendly and knowledgeable can be a part of your relationship with your CPA as demonstrated by Donna and Chad Bordeaux. They have over 50 years of combined experience as entrepreneurial CPAs. They’ve owned businesses and helped business owners exceed their wildest dreams. They have been able to help businesses earn many times more profit than the average business in the same industry and are passionate about helping industries that help families build great memories.