Let's Confront Reality --Dickeson

It's very important. The day when a job is actually billed becomes day one—the birthday of an account receivable. From that point onward we count the candles on the birthday cake—the days until the customer pays the bill. If we're giving a discount for quick-pay, that birthday starts the timing of the discount period, doesn't it? If we've set limits on credit extension, until we bill we don't know how much credit we've extended any particular customer until we bill the job. If we're financing receivables, that birthday is when the money's available.