How to deal cash jobs in Residential home services businesses ?

searcher profile

September 11, 2023

by a searcher from University of Engineering and Technology Lahore in Toronto, ON, Canada

Cash jobs are very common in Residential home services businesses. What are the best practices to deal with them during due diligence and after acquiring the business?

0
3
30
Replies
3
commentor profile
Reply by a searcher
from Columbia University in San Diego, CA, USA
Only count what is booked and has a paper trace. if they are not booking the cash and says there is more sales than is booked sounds fishy. Dig in to understand the cash handling process.

Post close require checks or bank transfer, or immediate deposit in the bank so there is a record. Do not want to burden an employee with large amount of cash responsibilities.
commentor profile
Reply by a searcher
from University of Engineering and Technology Lahore in Toronto, ON, Canada
Thank you for your response. Any suggesstions How to eliminate cash jobs culture in a business? , I noticed most of the home services business owners offer a discount to customer if they pay cash but then they don't issue an invoice.
commentor profile
+1 more reply.
Join the discussion