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 CampgroundAccounting.com. Please follow us on Facebook and Instagram. 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 firstname.lastname@example.org.
Donna Bordeaux, CPA with Campground Accounting
What happens when you send two CPAs out into the relaxing outdoors to camp? You get CampgroundAccounting.com. Donna and Chad have over 50 years of combined experience as entrepreneurial CPAs. They’ve owned businesses and helped business owners exceed their wildest dreams. They camp and travel across the country every chance they get, so it’s just a natural fit that they focus their CPA skills on helping campground owners throughout the USA grow their businesses and minimize the impact of taxes. They understand the key performance indicators and specialized issues that face RV park owners every day.