Why Venmo & Business Don't Mix

The Jeff Trapp Podcast · May 3, 2023 · 7m

Welcome to the Jeff Trapp Podcast! In this episode, Jeff will discuss some really pesky issues surrounding cash accounts and payments. In particular, he'll explain how third-party apps like Venmo or Zelle for making payments or collecting cash are actually making way more work for you as well as your accountant. Besides explaining why you shouldn't use those apps, he offers an effective strategy for paying vendors in a way that will save time on tracking, and issuing 1099s to all those vendors at the end of the year. So if you would like to work smarter, not harder then stay away from Venmo…