What is Cash?
Definition: Cash is legal tender, currency or coins, that can be used to exchange goods, debt, or services. Sometimes it also includes the value of assets that can be easily converted into cash immediately, as reported by a company.
In Plain English: Cash is the currency that your company uses to pay for goods and services.
Example: If you had one $50 bill, you have $50 in cash.
Why Should You Care?
Understanding cash is essential to running a business!