MONEY

Money

Often people think of money as cash in the form of coins and notes.

In bookkeeping and accounting, money refers to:
* Coins and notes
* Money in the bank
* Receivables, funds owed to the business
* Payables, funds owed by the business

Generally anything of value will carry a monetary value.

Cash is considered to be a current asset and a tangible asset which can be easily used to purchase other assets.

The word money is also sometimes associated with currency.

Money is vital to a business, ensuring it is sustainable.

Managing money effectively will ensure a healthy cash flow, meaning more money coming in than going out of the business.