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438: Key Financial Metrics for an Architecture Firm with Hugh Glazer

Business of Architecture Podcast

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The Balance Sheet and Accounts Receivable

You want to make sure your bank statements are reconciled every month and they ought to be reviewed periodically like somebody other than the bookkeeper or accountant that did them another critical one is your accounts receivable. If you don't have standard billing terms let's say do in 30 days and and say that clearly on your invoices you should now I know that folks that deal with different government or municipal entities may have to agree to different payment terms but you need to be aware of those as well. So yeah absolutely great so to kind of finalize this the balance sheetYeah so um you know we've been talking a lot about the income statement you know things uh on the balance sheet obviously cash

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