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Billing Cycle

Billing Cycle

A billing cycle is a critical component of modern business. It establishes the rhythm of a customer's relationship with the company, providing a reliable means of receiving payment in a timely manner for goods and services provided on a recurring basis. By defining the range of time between billing statement dates, businesses can anticipate and plan for the inflow of cash to cover expenses, wages and other obligations. The billing cycle also encompasses a company's financial accounting procedures, helping to ensure that monetary transactions are accurately entered into the company's ledgers and that customers are properly billed. As such, the billing cycle serves as the operational heartbeat of a business, helping to ensure the company is properly funded and operating in a profitable manner with regard to its customers.

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