A tip about Venmo

People love Venmo. It’s free, instant, and super cool (supposedly?!). But it’s definitely not cool for your bookkeeper. Or maybe you are also a bookkeeping professional and like me, Venmo drives you nuts. One important tip whether you are a business owner who uses Venmo for business (you need explicit authorization to do so) or a bookkeeper trying to keep track of the Venmo transactions:

Avoid making payments from your Venmo balance. That’s it! Fine by me if you want to keep using the easy, free method of transferring cash. Just make sure you deposit all your payments received in Venmo to the bank and always, always, make payments from the bank balance, not the Venmo balance.

Your bookkeeper will thank you!