Managing cash is a major admin headache. Reconciling a petty cash box, chasing receipts, filing invoices, and just generally keeping an eye on all the admin requires dedicated time and resources that we’d rather spend elsewhere – say, on our clients, for example. And if the office manager pops out to lunch or off on holiday and forgets to leave the key for the petty cash box behind, well then, personal receipts pile up and everyone gets a bit snarky.
Honestly, we think managing cash is a waste of time and money, which is why in early 2019 we made the decision to become a fully cashless business.
The truth is, we don’t need cash anymore: even the smallest payments at the newsagent can now be done on card – so why keep it in the office? Our cashless business is enabled by Soldo which provides centralised control of card payments for employee and company purchases, and Xero, our accounting system (watch the 16 best accounting videos of all time).
TopLine is a process-driven business, and we have always looked for ways to be more efficient. Our clients can attest to the fact that when they work with us, they are working with an organised bunch of people, who have processes and policies in place for everything.
By eliminating cash, we are saving time that can be spent on other important business – and ensuring more efficient payment processes.
When it comes to paying our suppliers and staff, we never drop the ball. In fact, we don’t drop the ball at anything really. But we know the importance of getting paid on time and respect the people we work with too much to allow late or messy payment processes to creep in. And relying on cash can get messy!
So, for all our amazing suppliers and freelancers who work with us, bear in mind that we don’t have the facilities to handle cash in any way. Our accounting system is fully centralised and digitised. What this means though, is that you can expect to be paid on time every time – just not in cash.