Season 2 Ep05 Jane Tweedy – Cash transactions cannot be cashies | FAQ Business Podcast

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Have you ever been asked to do cash or a cashie? And then you maybe you have been told everyone does it.

Today Jane talks about the difference between a cash transaction and a cashie, why cashies are a bad thing for your business and what some of the serious repercussions can be if you do them.

Season 2, Episode 5 features our host, Jane Tweedy Founder of FAQ Business Training solo.

Disclaimer – All information provided today is general in nature. Please reach out to Jane if required for personalised advice. 

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Season 2 Episode 5 FAQ Business Podcast transcript | Cash transactions cannot be cashies

00:01 Core value – making sure people are doing the right thing

One of my core values at FAQ Business Training is to help people who are doing the right thing do the right thing. This includes making sure that people are not involved in the shadow economy and doing things like cashies. So what is a ‘cashie’? It’s a cash transaction that is typically not declared and therefore it’s not going through the business books and therefore the person receiving it might get a discount.

Even if you don’t care about the shadow economy and what it’s doing to the community and the economy, do you actually understand what it’s doing to you and your business and the risk that you are imposing upon yourself?

Today’s episode, I cover why cash transactions cannot be cashies.

00:48 Welcome to the FAQ Business Podcast

Welcome to the FAQ Business Podcast for business owners, covering four pillars: actionable education, inspiring leaders, businesses like you, and thought leadership where we challenge your thinking. Hosted by myself, Jane Tweedy, I’m founder and lead trainer of FAQ Business Training, where we want to avoid you getting ripped off or ripping yourself off.

We’ll feature an amazing diversity of guests with lots to educate and inspire you. Let’s jump into today’s episode of the FAQ Business Podcast.

01:24 The cashie in small business – what is it?

Cashies can be a big bone of contention in small business because they are often approached by people asking for a cashie. What do they mean? They mean don’t put it on your books I’ll give you cash that means you make some more money because you’re not paying any taxes and I will get a bit of a discount.

But unfortunately, the world doesn’t work like that. It’s not as straightforward as that. So you need to be aware of what you’re doing and that this activity could be costing you your business and even your life. Well, your lifestyle at least.

01:60 Why shouldn’t we be doing cashies?

Let’s not sugarcoat it and jump straight in with the reasons why you should not be doing these discounted cashie transactions. But rather if you receive cash, which is legal tender and is perfectly legal to receive that you bank your cash and declare it through your normal records and provide a normal invoice if you’re under $75,000 no GST in Australia or a tax invoice over $75,000 and charging GST and a receipt.

02:28 Some examples from the ATO of business who did cashies

We will then explore each area a little more before we end up talking a little bit about mates rates as they often go hand in hand with cashies. I’m just going to give you some examples though first, to set the scene, these are some examples from the ATO website, with reference to Page QC 23443 if you want to look it up.

A security business owner who didn’t declare all of their income was sentenced to a twelve month intensive corrections order i.e. jail and ordered to pay just under $250,000 in reparation.

Another business was charged for not including online sales in their numbers. The ATO investigated discrepancies, which they identified because they noticed that the income being reported by the business was very small yet the money landing in their personal bank accounts was very large. They court ordered the business owner to pay over $36,000 in unreported tax plus $18,400 in penalties and fined $4,000 and has a criminal conviction.


03:40 Lots of risks to you including fines and imprisonment

So these risks are very real and if you want one of those things to happen to you, sure by all means go do cashies. But I know most people don’t want that. So let’s go through the other reasons why illegal cashies are bad. Apart from being penalized, fined and imprisoned, which in itself might put most people off, you’re also invalidating your insurance or you will have no insurance at all. Whether it’s business insurance, public liability, professional indemnity or workers compensation.

04:12 You may have problems with warranty and repair

You may have issues with warranty and repair. You may have no warranty in place because you bought an item that had been done as a cashie. There’s no proof that the person did it. They could say, we never installed that where’s your receipt? You don’t have one.

04:30 You might struggle to borrow money

You may struggle to borrow money because one of the first things you do when you go to borrow money is they ask you for your records, they ask you for your bank statements, they ask you for your evidence that you’re making enough money. The money’s cash, it won’t work. You lower your business sale price on exit. So at the exit when someone else goes to buy your business, they aren’t going to be able to calculate the price correctly because the variables are not going to be able to be included.

05:00 You can’t claim through your business if you don’t have a receipt  

What about receipts that are not issued? So if you are buying something and there’s no receipt, you can’t claim it in your business. What about cash in hand labour where you are giving someone cash in hand? You can’t then deduct that through your wages as wages in your business, you’re also not contributing to the economy and hence this creates the term shadow economy.

Finally, the ATO does have ways of working out that you’re not doing the right thing because it is checking records against other people’s and against things like banks to make sure that you are doing the right thing.

05:40 There is a difference between cashie and cash transaction

So firstly, before we get kicked into today’s, I would just want to reiterate the difference between a cashie and a cash transaction. A cashie is where we are taking the money with every intent not to bank it, not to declare it so as to save us some money in taxes.

This is illegal and is known as the shadow economy. It’s the undeclared economy if you like. Apart from all the reasons to follow and to cover before as why cashies are bad for your business I personally don’t like it because it is taking businesses off the level playing field.

06:19 One of my core values – want to help people who do the right thing

It is giving an advantage to a business that’s doing this activity and is not something that another business coming along could replicate. They can’t do it if they’re trying to do the right thing. So they are starting off on a playing field that is not level with you, which is not fair. As I stated in the opening, it is really important to me it’s one of my core values. I only want to help people who are doing the right thing.

Now, sometimes people won’t know they’re doing the wrong thing. So to go back to the previous point, I don’t want to help someone that’s deliberately ripping the system off. That’s not the type of business I want to help succeed in the future. However, I do want to help people who aren’t aware of what they’re doing is wrong or they’ve heard about it and just want to validate what the story is.

07:10 Some people might not realise it’s illegal or might be misled

For instance, some may be doing it because they thought, oh, everyone just does it. It’s just kind of the done thing it must be okay, I must have to offer it if somebody asks. I don’t know how to say no or just simply they have no awareness of the consequences or the fact that what they’re doing is actually illegal. Okay, these people are more just often misled, bit naive, that sort of thing.

So those people I’m willing to help. So today’s session is definitely for you, and definitely for those who have thought about it or have been tempted to offer these little cashie deals. Cash is legal tender, so cash transactions by themselves are perfectly okay as long as they are treated just like any other payment type and the transaction is declared properly and it goes through your books and also includes paying your workers too.

08:07 You can pay a worker cash as long as it is paid correctly

So you can pay a worker cash if they request it. However, you would still debit that out of your bank account, you would still record the transaction, you would still do their PAYG withholding and their super. So that is very different from paying someone underhanded cash in hand. Very different idea.

08:25 All your insurances can be affected if you have miscalculated

So let’s go back to those reasons why it is a bad idea to enter into cashies. First of all, no insurance, your business insurances, public liability, professional indemnity, and workers compensation can all be affected. You might recall when you last did a renewal for your insurance, whether it was workers comp or public liability one of the questions they ask you is how much money you are making, how much your turnover is, or alternatively, how much you are paying your employees.

So obviously, if you’re paying your employees cash in hand, if you are receiving less income than what is expected, you’re going to have some issues. Because effectively, for instance, the insurer might have calculated your premiums based on you receiving, say, $100,000, when in reality you actually receive $150,000.

09:17 They may not insure you even if the premium is paid

The insurer will not insure you properly because if they find out that you have lied to them and deceived them, you actually will have a complete out on your insurance. So it won’t even be that okay, they’re going to insure you for less, they may not insure you at all, even though you’ve paid a premium. So be very careful of that. All insurances have out clauses for illegal activities, so be very careful of that.

09:43 Biggest issue is workers compensation if an employee is injured

If you lie or be dishonest, there is every chance that you are going to get caught and you’re going to be left out. The biggest issue obviously comes really with workers compensation. If you are paying a worker cash in hand, they’ve never been on the books, then how are you going to try and claim to workers compensation? Oh, yes. My employee that I’ve had for months or years is injured I need to claim workers comp for them, but they’re not in your books.


10:12 The cost could be a lifetime of expenses and lost earnings

You haven’t actually paid them a cent yet. That stuff is going to come out. So please don’t do this. And bear in mind, the cost could be horrific. Somebody could become a quadriplegic through an accident in the workplace.

We’re not talking a few weeks off work. We are talking a lifetime of medical bills and forgone earnings, huge, you could also have to pay fines and penalties. So the cost of this are crazy high. So please don’t do it.

10:41 Warranty and repair – you need to have a receipt

What about warranty and repair obligations? This becomes a very grey area. There’s certain consumer protections in place, but these consumer protections pretty much rely on that confirmation that a transaction actually occurred. How can it be worked out whether or not this is a real transaction and there is no receipt, there’s no evidence that the work actually took place. So it can make it really hard.

If you’re on the receiving end of a bad deal, think about it. If you need to go and complain to somebody and you want to go to Fair Trading or something similar to that, how are you going to go to Fair Trading when they’re going to say, okay, well, where’s your receipt for your transaction? Well, actually, I did it as cashie. That’s not really going to look good. You’re not really going to be openly be able to say that, and therefore it’s going to cause repercussions.

11:29 At FAQ Business we want to avoid you getting ripped off

You’re just not going to be able to do anything about it. So you’re going to get ripped off. Again, something we try and avoid as a business at FAQ is avoiding you getting ripped off or ripping yourself off because of what you don’t know.

11:41 If you want to borrow money banks will ask for your records

You may also struggle to borrow money. If you go to the bank and say, Please give me some money, the first thing they’re going to ask you for is for your bank records, for your profit and loss statement, etc.

And if your income is recorded, say a third less than what it is actually because you’ve been taking cashies, the bank is probably going to say you’re not earning enough money. You’ll be like, oh, yeah, I am. This other money coming in, they can’t count that other money coming in. There’s no evidence of it having occurred. So bear in mind, this can be a major issue if you’re trying to borrow money.

12:17 Need to make sure all transactions go through books

So you need to make sure all of these transactions go through your books. I knew a person many years ago who lived in the US and they were running a little kiosk type food business on the beaches on the East Coast and the whole entire business was just cash. Like the whole thing was cash partly because of locality.

12:38 Example of business running two sets of books

And what they were doing with the cash was they were effectively here’s the money for the taxes and the legit stuff. Here’s the money for the under the table, literally under the mattress and literally siphon it off at the end of the year, at the end of the month and things. They basically had two sets of books, the books that were the official books that they had with the tax and everything and then the books that had the real numbers in it so that they could see how well their business was doing.

13:03 Then breaking many laws doing the wrong thing

So from the tax department’s perspective, their business looked like it was a real struggle and yet they were rolling in it. They would take international trips and strap money to themselves. So clearly they knew they were doing the wrong thing. You just can’t do that breaking so many laws by crossing international waters like that, they were breaking even more laws. Just don’t do this sort of thing. You can imagine how dangerous that would have been if they hadn’t been caught, particularly in certain countries.

The other thing this particular business was doing that was questionable is they just didn’t make any allowance for tax. They just had no idea of the fact they decided that they couldn’t charge tax. So in America, sales tax is typically on top. But what they were doing is not just putting it on top, they’re just ignoring it.

They’re like, that’s too hard. If we say this is $10, we’ll just charge $10 and that’s it. And I was like, but you do realize the stuff that you have put through your books you have to pay tax on and that’s coming out of your money because you haven’t actually allowed for it. It was just a nightmare.

14:05 Make sure we allow for collecting GST

They were doing absolutely everything wrong. And as an FYI running your business, make sure you do include tax calculations in your numbers. Typically in Australia you have over $75,000 turnover you will be paying GST, but the GST is being collected on behalf of the government. So always remember it is on top, it’s collected and put aside immediately.

14:28 Allow for income tax for the business

But on top of that, you will also have money being paid as tax by the company if you haven’t paid it all out in expenses. So you will also need to allow some money to pay for that income tax for the business.

14:41 Can also lower value of business if you want to sell

Another thing that happens is that you lower your business sale price on the exit of the business. Eventually you’re going to decide, you know what, I’ve had enough I want to leave, I want to go traveling, I want to spend more time with my family, I want to retire. Whatever it is, right? You decide you want to end up your business again. The first thing, just like the financiers do, first thing they do is look at your books. Your books again are going to be the official record of the business.

Therefore you will have no record of these cashie transactions. So again, it is going to lower your sale price upon the exit. So although you might have been saving money in tax along the years, you are now going to effectively lose out on it through the sale because your sale price will be lower.

I’ve seen situations of this whereby I’ve paid customers looking at buying things like a hairdresser or a newsagent’s and the person selling is trying to say, oh no, but the numbers are much, much higher than this. We take about a third of our money in cash.


15:42 Buyers cannot rely on money if it’s not legitimate

That is so wrong. And that customer of mine cannot rely on getting that money in. Like you can’t say that that money is there. You have no idea. They might be guesstimating that they make a third extra. You don’t know if it’s legit or not. Well, it’s 100% not legit. But does it actually happen or not? You don’t know.

When someone is buying a business, they’re going to base it on actual numbers, not on your inflated numbers, including your cash transactions that were not declared.

16:15 If you are not getting receipts cost might come out of your personal account

What about receipts not being issued? When receipts aren’t issued, a business may not be able to claim that expense. Therefore, if you buy something for your business and you pay a cashie amount for it, you can’t claim it in your business and you can’t kind of deduct it anywhere out of your business. Therefore, you might end up having to pay it out of your personal account. It kind of defeats the purpose, doesn’t it?

Having a business and having business expenses, so you can’t claim it. You can’t deduct from the income tax because you don’t have any deduct yet you’re physically paid a cost out on the other side. So will it end up better off for you? Probably not.

16:53 Cash in hand jobs are illegal

Cash in hand labour is also illegal and one of the things I do is I run a couple of local community Facebook groups about job search and positions vacant. One of the things I try to do is make sure that the businesses that do list jobs are doing the right thing. So if I do send them trying to put up a cash in hand job, I will reject it because I’m trying to help stamp out that shadow economy.

17:20 Not paying the correct rates a lot can go wrong

The thing is too, when you put up roles like that, we’ve already talked about the fact that you’ve got workers compensation issues, but often people are putting up roles like that because they’ll say something like I’ll give you $20 cash in hand when the award rate, the rate that they are meant to be paid is say, $27 for casual or $30 for a casual.

So it’s way below the award. They’re not paying super, they’re not paying as you go withholding to the government, they’re not doing any of the right things and have no workers compensation either. So there’s a lot of things that can go wrong when you pay an employee as cash in hand.

17:58 Can pay someone cash but it must go through books

You can pay someone cash it’s legal tender to do so. But again, put it through your books, give them a pay slip. Say yep, we’ve paid you the correct rate of pay, we’ve deducted PAYG withholding, we’ve paid super for you, if it’s in Australia. All that type of thing needs to be done properly.

18:18 Biggest issue is the workers compensation insurance

But the biggest issue honestly, is that cash in hand affecting workers comp. As I said earlier, what happens if that person becomes a quadriplegic or something? It is not a few weeks worth of pay we’re talking we are talking lifetime damages. This is not something you can afford to pay if you do not have insurance.

18:37 We all need to contribute to the economy

The other thing, if you do have any community spirit at all, is that you are not contributing to the economy. Hence it is the shadow economy. When you’re not contributing to the economy, you’re not paying taxes. What happens when you don’t pay taxes is that there’s lesser money available for community amenities, things that you expect.

19:00 You expect to use Medicare which is taxpayer funded

Do you expect to be able to go to hospital and have some costs covered? Do you expect in Australia to have things like Medicare? I bet you do. But who’s paying for that? The taxpayer is paying for that. And if you’re deliberately avoiding paying taxes, and then on the flip side, moaning, there’s not enough coverage for things, well, hello, you’ve got to start paying your way.

19:21 If you are paying taxes then you are earning an income

It is not a bad thing to pay taxes. It means that you’re earning income and you are a valid member of society. That’s not a bad thing. So if you want to use public resources, expect to be able to contribute to them. And you do that through paying your taxes.

19:38 The ATO has different methods to catch people doing the wrong thing

The other thing you may not be aware of is the ATO does have ways of working out whether or not you’re doing the wrong thing. So you might be surprised at some of the methods they use. Now, some of them are obvious, okay, if you pay a worker underhanded i.e. you give them cash in hand and you don’t pay them all the things they’re entitled to they might get disgruntled.

20:01 Your staff might report you for not paying award rates

And what might they do? They’ll go and report you to anybody that will listen. So they’ll report you to the ATO for not paying their super. They’ll report you to Fair Work for not paying award rates. So you’ll have a bunch of people on your back potentially. So you never want to upset anyone.

20:17 A competitor may know you do cashies and report you

A competitor could find out that you’re doing cashies. They could report you. So there is kind of an ability to report people who are not doing the right thing so you could easily get reported.


20:28 The ATO will look at bank records and compare to the industry

The ATO will also compare your incoming and expenses and things like I said earlier, the example from the ATO about this person not declaring certain income but their bank account records looking far too high. And it became obvious that hey, there’s some money missing in here. So the ATO can check your income and expenses. They can check your personal bank accounts and your business bank accounts. They can check even industry suppliers and they can check banks, they can check all this against each other.

20:56 Employee might declare what you have not declared

But also that employee that was paid cash in hand, they might have declared income received. So they may have declared the income whether or not it was meant to be declared by you, they’ve done the right thing. They’ve declared it, which is now flagged the ATO wait a minute, they said they’ve got a pay from this person this person isn’t saying they paid them. Where’s the disconnect here?

21:19 Industry benchmarks are also used

So they do a lot of these checks and balances. They will also do things like look at industry benchmarks. So for instance, if your industry benchmark said rent was 10% and wages were 40% for the average business in that industry. What they might do is go, why are you paying 40% in rent and only 10% in wages?

It’s going to raise two potential flags to them. Possibly you are not declaring all of your income and additionally, maybe you’re not paying people correctly. It could of course just be a business in their first year of business, that hasn’t got much wages because they’re working for free in their business as an owner. Therefore the wages are a small proportion, but the rent is a huge proportion.

Of course, that sort of thing can happen, but as you can see, it’s going to raise red flags. So they definitely say they openly say that they do look at industry benchmarks. So you can find the industry benchmarks for the Australian economy under the ATO. Just look up ATO small business benchmark and you will find those there for you.

22:27 You can be audited by the ATO

The other issue with the ATO is that they can audit you. So if you do things wrong, the ATO can do an audit. This can be very expensive. In fact, in Australia you can buy audit insurance, which is basically a fee that you will pay each year as an insurance cost. But what it will cover is things like your accountant charges if they have to do an audit. Because what happens is obviously the ATO request information from you.

22:58 Good record keeping can make a difference

Most people have to go to their accountant to get that information. Five year old data for X, Y and Z, like you don’t just have that at your fingertips. This is where good record keeping will make a difference. If you’ve got good recordkeeping, then you should hopefully not need to have things like audit insurance on top or pay a $5,000 bill to the accountant to retrieve this information.

23:20 Tips are actually declarable income

Another FYI if your business is say, for instance, a cafe and you take those little cash tips. Those cash tips are actually declarable income either to the business or directly to the employee. So most people would not know that.

23:39 Cashies should only be legitimate cash transactions

Hopefully these reasons I’ve given you today will tell you why you cannot have cashies as anything other than legitimate cash transactions. They have to be declared properly and therefore you probably should not be offering discounts for cash.

In fact, you could potentially be offering a higher charge for cash as there’s cash handling and more admin time to actually manage cash in your business. So it actually costs you more to have cash in your business than less, ironically.

But bear in mind, if you get caught and you’re doing the wrong thing, you could face audit fines and audit costs, you could face fines, penalties, backdated interest, and a worst case scenario end up being charged with fraud and end up in jail. Not what we want, right?


24:30 Prepare yourself and workers to say no to cashies

So the next thing you might say, but I don’t know how to say no to people. I don’t know what to say. So my next thing would be to have some scripts available for yourself and for any workers that are dealing with customers to answer the question if it gets asked.

So for instance, if you are an electrician and you send out your sparky to their job and on the site. The customer says ‘hey, if I give you cash, do I get a discount?’ Then the answer should be no. You can pay cash as it is legal tender. ‘But we will be banking your cash, and we will be declaring the income through our books as we declare all of our income. We are expected by law to do so, and it also ensures that you have the appropriate warranties and certifications in place in case it’s ever needed’.

25:21 We are also stating the benefit to the customer

So obviously we’re saying our position and being very clear about it. But in addition, we’re saying what the benefit is to them. Because they may not realise that they don’t have those warranties and things in place. If it’s electrical, the certification could be invalidated. So be really careful for that. So do what’s right for you, but also make it clear why it’s helpful for your customer too. Much easier to get that through.

If they try and use the excuse oh, I’m helping you out by giving you cash. Well, no you’re not. You’re actually costing us more in administration time. So actually we should pay a cash handling fee, which some people actually do charge.

25:58 Maybe time to part ways with customer’s if they insist

So if a customer continues to insist that they want to do a cashie, then it may be time to part ways with that customer. They clearly have a values misalignment with you. And therefore you might want to look into our Tea Time Tip about problem clients.

26:16 Refer Tea Time Tips series for additional resources

Our Tea Time Tips are a series of live videos that we do. A training series that we conduct every month and it’s a free session that we record live. And then we put that into our online school. We give you access to some additional resources like the slide pack through the online school. And if you’re in our membership, all of those key Tea Time Tips are included.

Click the image to learn more about Tea Time Tip courses

26:38 Mates rates are typically linked with cashies

Lastly, I just want to cover mate’s rates because mate’s rates are often highly interlinked with cashies. What are mates rates? A mate’s rate is typically where your mate or your neighbour or your family member says: ‘hey, you’re my mate, what can you do for me? What kind of deal can you do for me by me coming to you and using your service.’ So even, some young people might ask as much as a third off by coming to you with a cash offer.

27:09 Do your mates want to get you in trouble?

Now, my response to this is, number one, do your mates want to get you in trouble? Really? Are they your mates? Do they want to see you get a fine or a penalty or imprisonment because you’ve done the wrong thing? I doubt it. So I don’t think they really want to see you get in trouble. Do your mates not want you to succeed? Like seriously.

27:31 Situation I needed call out to my house and given a really low quote

And I had a situation recently, I’m getting a job done and they’re going to have to come to my house and I knew there would be potentially a call out fee for that, which I was more than happy to pay.

He gave me a quote which was really low and I said to the guy, I said ‘would you have a minimum charge for the call out or anything like that?’ And he says ‘oh, well, normally it’s this, but because you’re only just down the road, it’s okay’,. And I’m like it’s more than just down the road. It’s going to be a 30 – 45 minutes round trip by the time he brings his stuff unpacks it, packs it back up, drives to and fro 45 minutes. [plus there was a storm which disrupted things!]

What’s more, he’s not charging for it. So I’m the opposite of most people I’m not trying to get a discount, I’m trying to make sure people charge appropriately and actually gets paid what they should do. So in his case, I’m like, no, no, charge me the amount that original amount, because even that’s too low. But that’s better than the second amount that he was quoting, which was just crazy low.

Most small businesses don’t charge enough as it is, let alone offering discounts to their mates. Plus, a lot of people miscalculate how the discount is actually even calculated and then it all just goes really badly.

28:43 Check out Tea Time Tip 5 on discounting

If you want to find out more about discounting, though, please check out our Tea Time Tip 5 on should you discount? It’s a really detailed discussion about how discounts actually work successfully and how you should actually use them in your business.

And if you are going to use them, how it actually works, because it’s super important to understand that. Do understand there will be some situations that you could give your mates a discount. For instance, if you were doing work for your partner, there is no travel time. If you’re doing work for your neighbour, travel time might be two minutes, then it genuinely is a lot less than what you would be doing normally.

29:22 If it is a genuine saving that is something you can pass on

So you’re saving that time of traveling, you’re saving the car cost, etc, from traveling. So that is good that is something you can potentially pass on. The other thing you’re potentially saving is marketing cost. So if you typically acquire your business, say through Google Ads, then you’re aware that there’s a certain cost for doing Google Ads, a certain cost per lead.

So what you can do is basically say, well, I’m not paying that money out so I could give my friend a discount. But at the end of the day, if your friend, your mate is insisting on a discount, I would turn around and go, do you go to Kmart and ask them to give a 20% discount to you? No, you don’t. So why should they be expecting it from you? Your mate should be showing you support, real support, not support at a discounted rate, which is really supporting them, but showing you support that they want to help you stay in business.

30:19 Risks too high to be doing cashies

Thank you for listening to today’s episode of the FAQ Business Podcast. It’s another one on thought leadership and I hope it really has got you thinking that you don’t have to offer these cashies, or if you do, you can just record them as normal cash transactions through your business without the discount attached. I hope I’ve been crystal clear about the risks that are involved when you do cashies.

They are just too high risk. So when we’re looking at risk and assessment in our business, it is too high risk, the reputational risk, the cost risk is just too high if we get caught and the likelihood of impact the likelihood of getting caught is probably at least a medium. So we definitely don’t want to go there.

31:08 Only offer mates rates if genuine saving

Also remember that mates should treat us better and honestly, we don’t have to keep offering these discounted rates and certainly not cashies. So you can offer it a discount if it’s genuinely a saving, like that marketing or travel time, but otherwise make your mates pay full price.

I hope we’ve got you thinking about cash transactions in your business and you are doing the right thing because let’s face it, I only want to work with people who are doing the right thing and I want to help you do it right.

Thank you again I’m Jane Tweedy from FAQ Business Training.

31:50 Thank you for listening to the FAQ Business Podcast

Thank you for listening to today’s episode of the FAQ Business Podcast available on all good podcast services. You can subscribe today via FAQ Business or directly on Apple iTunes, iHeartRadio or Spotify. Subscribe. Follow. Share, and where able review our podcast or leave us a comment on either YouTube or our blog page.

Thanks for helping us to help you the small to medium businesses who are growing and want to make a difference. Look forward to connecting with you again on the next episode of the FAQ Business Podcast.


Jane is a Professional Certified Coach with International Coaching Federation (PCC with ICF), business advisor and trainer. She loves working with growing small to medium business owners who are doing the right thing, to help them do it right! Currently, Jane offers at least 50 live sessions a year to train small business owners.

Jane offers a variety of services to clients and her online school and membership was launched in late 2021. Jane’s focus for 2022 is building the membership and offering implementable small group training – something she finds is often the missing link.

If you are interested in training, speaking, or anything else Jane has to offer, please connect via or via the contact forms on our websites. – our main site with a great blog – our new online school and membership site – our podcast site

And on the socials …




About FAQ Business Training

If this is the first time you’ve come across us you may want to know who we are! FAQ Business Training has a mission to educate and empower small business owners to learn enough to do it yourself (DIY) or outsource with confidence. We do this via face to face training in Western Sydney (currently all training is provided online), speaking at conferences, events and networking groups and we have launched our online school and membership, offering online courses and webinars to appeal to a global (English speaking) audience. Connect with us on Facebook or LinkedIn.


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