If a plumber said cash only would you presume it was because he/she was evading tax?
Consultants are no more or less likely to engage in tax evasion than anyone else; there are as many dishonest doctors as dishonest plumbers/carpenters/taxi drivers/ solicitors.
If the consultant insists on "cash only" you can bet they are skimming cash off the top.
By the way Old Nick I have to correct you; Irish consultants aren’t amongst the best paid in the world, they are the best paid in the world (bear that in mind the next time you see one of them shed crocodile tears in the media about lack of resources).
3. The cost of providing laser/CC facilities
We also do not provide credit and there is an ATM close by which helps shoud a client arrive without cash.
The cost of the Debit/Credit card machine isn't that high. The danger is holding cash on-site it always there and there is a cost in time and money to lodge cash in the bank. Revenue are much happier when doing an audit if they see the debit/credit card machine.You could be right but I'm not sure. My wife has recently opened her own practice in the medical field. We looked at payment methods when opening and have remained a cash-only business. The following are our reasons:
1. Cheques bouncing leading to either bad debts or chasing customers which also affects the client relationship.
2. Having to go to the bank to lodge cheques.
3. The cost of providing laser/CC facilities
We also do not provide credit and there is an ATM close by which helps shoud a client arrive without cash.
Having said that a consultant's fees are pretty significant and they also do have secetaries so I would expect them to accept laser in any case.
The fact is though they are quite entitled to insist on cash as this is the primary legal tender.
Just my 2c (in cash!)
The cost of the Debit/Credit card machine isn't that high.
That's true, but there will always be somemoney there and we're insured in any case. We only keep a float over-night and I lodge the money myself on my lunch break so it's only shoe leather for me! When things pick up we might look at the night safe option, but I'd be more scared of these as it's usually dimly lit!The danger is holding cash on-site it always there and there is a cost in time and money to lodge cash in the bank.
Revenue are much happier when doing an audit if they see the debit/credit card machine.
2. Having to go to the bank to lodge cheques.
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