Bill on time, get paid on time: The importance of the AR Report for a professional services organization
In my last article I talked about the strategic importance of cash on hand for a professional services organization and how a management team can accurately and consistently monitor it. In this article, I want to talk about the importance of the Overdue Accounts Receivable (AR) Report.
As a professional services firm, most of our revenue comes from project-based delivery of services. We have some top-line revenue from the subscription services we sell like Dynamics 365, but it is not significant. So, our primary source of revenue is services. We needed to ensure we bill on time, get paid on time. So we developed our Power BI AR report as shown below:
So let's dive in! A few things to note in the above report:
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