#57: Finance, Accounting, and SaaS Metrics Basics for Practical Founders - Ben Murray
Practical Founders Podcast
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The Importance of Revenue Recognition in Telefounders
If you're invoicing in any duration longer than a month, this is where revenue recognition comes into play. Usually telefounders, not until again, after 3 million ARR, that's when we've got to get serious about our accounting. Of course, there are systems that are made to do that and eventually we'll need a software to do that. But yeah, it's important because when you're on a cash basis,. for example, you'll see maybe one month, my revenue is 100k the next month, it's 20, then It's 50, then it's 40, then it’s 100. And it's hard to manage our business
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