oboloo Glossary

Business Expenses Paid In Cash

oboloo Glossary

Business Expenses Paid In Cash

Business expenses paid in cash are generally defined as the money a business spends to acquire goods, services, or assets for its operations. This could include things like supplies, wages, contractor payments, rent, insurance premiums, and other costs associated with running a business. Cash payments are an efficient way to cover expenses quickly and easily, but it’s important to keep accurate records of all these transactions to ensure that they are properly reported on taxes.