What is the cash balance, and how does it work?

Clients can pay for their orders in cash. You’ll keep the cash that you receive when you complete the order. You’ll see a balance of the cash that you’re carrying. This balance will go up and down depending on the cash that you receive and pay out. We call this balance the cash balance. In this video, you’ll see how the app informs you that you need to pay in cash, and how the app indicates that you should be paid cash by the client.

The cash balance, in more detail

The cash balance is all of the received money that you accumulate. This balance can go up and down. You can check the amount of cash you have on the app at all times. We recommend you keep the cash in a different wallet to your personal one in order to manage it well. This balance can go up and down depending on four different things:

  •      It goes up when a client pays you in cash.
  •      It goes down when you pay for something in cash.
  •      It goes down when you take cash out of the balance (as advanced payment). The app will let you know.
  •      It goes down when you adjust the balance at the end of the payment period. Only if this is reflected on your invoice.

What is a cash withdrawal?

When the app lets you know you can, you’ll be able to take advanced payment from your cash balance. Normally the app will let you know every day when your collaboration hours are over, but it might not do so. This will depend on the amount of clients that have paid for their orders in cash, or, in other words, the amount of cash you received. Apart from this daily cash withdrawal, you can also withdraw cash at the end of the payment period. The idea behind this is that you don’t carry a lot of cash on you, for your safety. You’ll see the cash withdrawal made at the end of the payment period reflected on your invoice.

iPay

Customers can also pay for their orders using MPesa, through an app called iPay. In this case, paybill number 510800 is used by the customer, and you’ll have to provide the customer with your unique iPay ID to be used as the account number.

Did you find this article helpful?