2006-10-10 17:23:41 · 2 answers · asked by Mai N 1 in Business & Finance ➔ Other - Business & Finance
They would deposit revenue daily, if not more often, to accrue more interest
They would write checks to pay bills and salaries, etc.
They could move money around within accounts and investment funds to increase their interest potential
2006-10-10 18:11:32 · answer #1 · answered by Piggiepants 7 · 1⤊ 0⤋
Most businesses & other organisations bank the day's takings so as to have the money in the bank safe overnight instead of on their premises where a burglary or a fire and the cash & cheques are lost. Once in the bank the money is credtted to their bank account and is safe even if a robbery or fire then happens.
Also, it is far easier to start a new day knowing how much you have to work with, (which cheques have been honoured etc.).
2006-10-11 01:23:14 · answer #2 · answered by cheek peas 2 · 0⤊ 0⤋