Cash for payment

[Suzie Q]

My dh and I saved for over a year so that we could have CASH for our vacation. It went into an envelope and got stashed back in the dresser drawer. When we figured we had enough for gas, food, lodging and FUN, we made our plans.
We now have an envelope set up for WDW in 2010. The kids pitch in money when they want to/can. When we have the funds, then we will make the plans.

I hope you don't have a fire! I'd put it in a savings account when you accumulate "so much $." That is what we do.

 

[Morticia]

Well the gas stations have a "cash price" and a credit card price, however remember that the pumps control the sales. If you start rquesting cash think IRS AUDIT!! Better idea, talk to your cc company about reducing your fees, as much as they can based on Visa/MC fee control. I love my Discover card which is why I accept that from guests, and I lost business when I was not taking Amex. In fact unless I take a huge amount of Amex, I pay a flat fee/mos and it works out cheaper than Visa/MC..

So you accept Discover Cards? Is that expensive? How do you get to have a flat fee with Amex?
.

Discover costs me the same as Visa/MC - just call Discover Merchant services. Love them. Never had an issue. They don't increase the base rates like Visa/MC, which are then passed on by the processor.
I pay Amex $5.99/mos when my processing is below a certain $ amount. I can't even tell you what that ceiling limit it, after the first time I lost a business guest when I could not accept their Amex card, I changed my tune. I also had a local hospital put their temp ER doctor with me about 30 nights over the last 2 months, had I not accepted Amex they would not have put him with me.
If you are paying more than 1.59% Qual tran) with your Visa/MC cc processor, renegotiate ... just don't go to a new company if you are under contract or they will hit you with cancel fees. You should also not be paying more than 0.15c per transaction.
If you can process as debit cards (pin pad needed, that's about the best way to go - costs you about 0.67c per tran, that's it, but they are not always the best method for hotels.
.

The ceiling for AmEx is $24,000. After that you are a 'big' business, no discounts. Below that they will talk to you. Above that all they will consider is extending the length of time they have to pay you to reduce the rate. It doesn't amount to enough of a discount to let them hold onto my money for an additional 2-4 weeks.

 

[gillumhouse]

I am happy to say that 3 of my last 4 guests paid with cash or check. Yeehaa! As long as I record it as revenue and report it on my taxes, it does not matter what form of payment was used. Retail deals with cash and there is no reason we can't also. Just report it.