Currently, people can still use cash or take advantage of websites and mobile apps that allow sending money electronically and for free. The main benefit of paying in cash is that there is no fee. When accepting a cash payment it’s important for the transfer of goods or services to occur at the same time (if applicable). Seller Provides the Goods/Services, Buyer Brings the Cash.How to Send Money Electronically (free).Should the payment qualify as a tax-deductible purchase for the payer, the individual will require the receipt when itemizing deductions on their income tax return. The business providing the product or service should retain a copy of the receipt, be it physical or digital, for the purpose of tracking sales or services rendered. Due to there being no electronic evidence of a cash transaction, a receipt is the only way to verify that funds were paid to the receiving party. A cash payment receipt proves that a product or service was paid for with physical currency.
