How does a project become cash? • Orders/jobs are booked • Work is performed or subbed out • Work is completed • Timesheets are submitted • Invoices are generated • Invoices are approved by project managers • Invoices go out • Invoices from subs come in
• A/R is booked for the invoices from firm to the client • A/P is booked for the invoices to firm from subs • Cash is collected from the client • Subs are paid, firm is paid, and we move on to the next project!
THE PRINCIPALS ACADEMY 2022
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