i found change to usually be a good thing for billings.
from gary jones
indigorilla inc.
via linkedin
however, even with good things there can be some red flags of caution. for example – receivables become an issue for some/many cpas in a credit crunch. this credit predicament is different than those i have lived through, we are uncertain as to how all of this is going to unravel and be reflected in practice economics.
imho practices should:
1. vigorously analyze the practice
2. develop a new plan for giving client credit for services rendered
3. have a definite plan in place if cash flow slows down
4. confirm bank line is available from lender (review terms of this line)
5. consider new opportunities prudently
6. when in doubt – turn business down
7. write a tax season business plan based on opportunity and risk
i know these sound like common since, but look where this economy has ended up; upside down.