Years ago, many businesses had a “Cash Only” policy. As a Miami Acccountant, I dont recommend it anymore although you still see it now and then. Purchases were made and services performed only if cash changed hands. These days, a cash-only business would limit its potential customers. Even so, as a business owner you need to be smart about how you handle non-cash transactions, and how you manage payments to your employees.

• Accepting Cash Only

Cash is the most commonly accepted and reliable form of payment for a business. Many small businesses operate as “cash only” merchants. Years ago this wouldn’t have been uncommon, but with advances in technology this is pretty much old news.

• Accepting Checks

Although credit and debit card payments are on the rise, the expenses and additional record-keeping involved with card payments are not ideal for all businesses. If you want to expand your customer payment options beyond cash.

Very popular, convenient, flexible, and have become increasingly important in business commerce. If your business is considering what forms of payment to accept, or if you’d like to expand the payment options.

By extending credit to your customers, you give them the option to purchase products or services today and pay for them at a later date. When your business accepts credit card payments and personal checks or invoices customers, it usually boost sales. Becareful about who you extend credit to.

Online payment services allow business and consumers to exchange money electronically over the Internet. With an online payment service, your business can receive payment from virtually any customer with an email account.

Whether you have one employee or 50, setting up a payroll system not only streamlines your ability to stay on top of your legal and regulatory responsibilities as an employer, but it can also save you time and help. Call us we can help.

Gustavo A Viera CPA

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