Quote:
Originally Posted by Zachary McClung
Steve, while I would welcome them, I don't know if your boss or accounting department would. From having an accounting background, it is the devil of control. There is no paper trail from cash payments and can easily be pocketed. That is why retail has such a huge issue with employee fraud.
I think online businesses and any non retail business should set no cash policies from an account perspective and an audit perspective to make sure no fraud happens or no customers coma eback saying they did something they didn't do.
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I think I would accept cash, only if I operated an offline local business. Many customers still like to pay in cash. It is still a very appealing method for them. You will have to set procedures to track how the cash flows though.