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Do You Collect Cash With Your Business?

OnlineSales

OnlineSales

New Member
As the UK government announces plans to phase out 1p and 2p coins I thought it would be interesting to see who actually collects coins and notes these days for payment of goods/services? All of my payments/receipt of funds are made online so I only ever see the colour of the cash when I draw it out of the bank (very rarely).
 
G

Goingitalone

Member
Verified Member
As I work online all of my payments are electronic which suits me just fine and makes it much easier when I submit my company accounts at the end of the year. I cant ever see myself being in a situation when I would expect to take any cash payments. Also, my bank charges me for depositing cash in my company account!
 
selfemployed

selfemployed

Active Member
Verified Member
Cash is dead - too costly to handle and bank, electronic payments all the way for me.
 
G

Goingitalone

Member
Verified Member
Many people believe that government's are slowly winding down the use of cash - take the coronavirus issue, not being allowed to use cash in the majority of shops. Sensible, but it just shows how easy it is to stop everyone using cash?
 
Needhelp

Needhelp

Active Member
Verified Member
I cant ever see a time when cash would be banned but I can see governments and businesses making it more cost worthy to pay by card, bank transfer, etc.
 
mingstor

mingstor

New Member
Verified Member
I'm just at the beginning of my business path, and I'm not getting too much.
 
Nurand

Nurand

New Member
I'm just at the beginning of my business path, and I'm not getting too much.
I know what you are talking about. Seems like we're in the same boat! More than that, I'm extremely happy that I've already returned my investments. For me, it is a good indicator. Anyway, the most important and challenging thing is to keep it at this level for a longer period of time. I've got a professional team of consultants, that's why I completely rely on them. Besides, I assume taking risks, and avoid living paycheck to paycheck. This piece of information investedwallet.com have inspired me to pick the right mindset towards money, so, check it out if you want a financial stability as well!
 
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