Six Advantages and Disadvantages of Using Cash as a Form of Payment

Cash – Make sure it isn’t counterfeit, give a receipt, or don’t take cash payments.

First, there are many positive impacts that it has. An example of this is how it prevents employees from pilfering money from the manager. There is also some people that despise the cash register, and those people are the employees that were taking the money before. Finally, the evolvement of the cash register from Ritty’s model to the electronic model, was very important to each society that it evolved through. All in all, without the cash register, small businesses will crumble from loss of profit, and the economy would go into a downfall without the invention of the cash

17. Which of the following is not a procedure for control of cash payments? A. B. C. D. Checks should be properly authorized with approval signatures. The business should provide written

4. If you had a bank account, which two methods of completing transactions do you think you would use most frequently? Why? (2-4 sentences. 1.0 points)

The lock-in effect makes the task of creating successful general consumer Web sites much easier.

4. If you had a bank account, which two methods of completing transactions do you think you would use most frequently? Why? (2-4 sentences. 1.0 points)

The liberalization of the money related divisions in Asia has brought about the fast spread of charge card organizations and monetary organizations giving different sorts of purchaser credit. The charge card market in general world has extended radically that the guarantors of outside nations has presented cellular telephone Visas for the comfort of their customers.(Amin, 2008) This, combined with the passage of remote banks, has enormously expanded the quantity of credit cards accessible, and consequently such spending in Pakistan. Despite the fact that charge card was presented in Pakistan decades prior when Habib Bank, the biggest bank in Pakistan, dispatched its gold card, however individuals had scarcely think about this card in view of its extremely restricted issuance. Several years back, Master card was introduced by ABL (Allied Bank of Pakistan), but that also was not get good attention. In year 1994, VISA Card is introduced by Citibank, that give a better turning point to plastic money industry in Pakistan. The working of Citibank no doubt was amazing that open doors for new offerings for the people of our country as well as for financial industry

consumers with the ability to cash checks, receive bills in denominations of their choice as well

4. If you had a bank account, which two methods of completing transactions do you think you would use most frequently? Why? (2-4 sentences. 1.0 points)

Always pay with cash that is tangible. I do not like people being able to monitor what I purchase, especially when they are higher priced items, by using cash they cannot know that information. That way, the banks cannot see what I spent my money on and paying up front is much faster. Additionally, paying with cash guarantees that there is no chance of going into debt. Not having a debit or visa card leaves no room for temptation, so you have to use the cash out of your wallet. Seeing the amount of cash also brings more awareness about how much you are actually spending

Instead use cash for all your purchases. Any credit card purchases should be paid in full the same month of purchase. Do not carry a balance on your cards.

Health care facilities will accept cash payments from patients. When the healthcare employee receives a cash payment from a patient they must in return give that patient a receipt. Cash management “Refers to the efficient management of cash in a business in order to put the cash to work more quickly and to keep the cash in applications that produce income, such as the use of lock boxes for payments.” (Cash management) The use of a lock box is essential to keep your cash safe. You want to make sure you store your lockbox under the counter or a locked cabinet. Money that is stolen from a facility results in a loss of income. At the end of the day this money will be taken to the bank and deposited into an account. This cash will be accounted for on a monthly basis. This amount will going to the annual budget for revenue and expenditures. Each month the facility will have either a good or low amount of cash

Online payment processing services perform transactions at a much greater speed than manual processing. As well as ensuring error-free computations and faster processing time. Which means

The management of cash is essential to the survival of any organization. Managing an organization’s financial operation requires knowledge of the economy and ways to maximize revenue. For any organization to operate on a daily basis adequate cash flow is required. Without cash management the organization will be unable to function because there is no cash readily available in case of inconsistencies in the market. Cash is also needed to keep the cycle of the company’s operations going.

Capital flow involves concentration on the aspects of how the deal can be settled in an efficient and effective way. It is realised in term of customer service in settlement especially Alipay, the third-party online payment platform which provides assurance to buyers in settlement in the event of scams, delivery failures or transaction disruptions.