Invoicing for Professional Services: Reduce Revenue Leakage and Drive Efficiency

Invoicing for Professional Services: Reduce Revenue Leakage and Drive Efficiency

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On the surface, invoicing for professional services organizations seems like a simple concept. For services organizations just starting out, oftentimes it’s as easy as downloading an Excel invoicing template for consulting services, punching in your hours and rate, rendering a services invoice, and sending it to the client. 

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Revenue Recognition For Professional Services Organizations

Revenue Recognition For Professional Services Organizations

KG_19_BlogFeature_Revenue Recognition

Revenue recognition is an accounting principle, which refers to how revenue is treated or recognized.

While relatively straightforward in many sectors, revenue recognition can be a particularly complex matter in professional services, due to factors such as work being done under an array of different contract models along with complex deliverables.

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