No credit card processing fees. No equipment to buy. No chargebacks. No fraudulent purchases. Less bookkeeping. Just keeps everything pretty simple.

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I am not advocating it but I understand it. I have also seen a rise in credit card only businesses. I feel like both have their advantages and disadvantages. but most likely you are losing business if you restrict how people can pay.

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The only entity they should worry about seeming “suspect” is the IRS. If they are happy, the it doesn’t matter.

Any card you get will be based on personal credit score. The business has zero credit profile or history as of yet.

Offer him a new compensation plan. Drop the bonus and give him incremental raises. Not a 50% raise though.

Not sure where he came up with 10% a year or how his math works though. I’d certainly ask and point out the previous raises as well.

If you are stressing over this $550 you probably shouldn’t be in business

It’s a loss, write it off, move on

I would strongly advise speaking with an accountant so you can get a grasp on the financials and liability on what you are considering.

Shrinkage is part of business whether it is theft, vandalism, spoilage etc. You should be able to cover some loss and remain profitable.

You can have a policy about unattended kids but forcing a parent to pay for something you believe their child messed up may be challenging and not worth the end result.

I’d ask the owner if they really want their employees to confront customers over these situations.