> ## Documentation Index
> Fetch the complete documentation index at: https://irisdocs.prescientlabs.ai/llms.txt
> Use this file to discover all available pages before exploring further.

# Finance & Administration

> Protect cash flow and margin with clear commercial terms, disciplined invoicing and simple project economics.

A profitable project can still create a cash problem if the client pays late or scope expands without commercial control.

## Before work starts

Confirm:

* legal entity and billing contact;
* purchase-order requirements;
* tax treatment;
* fee and currency;
* deposit or milestone schedule;
* payment terms;
* expenses;
* acceptance process;
* change-control mechanism.

## Invoice promptly

Do not wait weeks after a milestone to invoice. Follow the agreed trigger and include the information procurement needs.

## Chase professionally

A simple message:

> Invoice 104 was due on 28 August and still appears outstanding. Could you confirm whether anything is blocking payment and the expected payment date?

Escalate based on the contract and relationship rather than becoming emotional.

## Track project margin

At minimum know:

**Project gross margin = fee − direct delivery cost**

Direct cost can include contractors, specific software or data costs and other delivery expenses.

Also track the founder or employee time required even where it is not a cash cost, otherwise low-priced projects may look healthier than they are.

## Payment structures

Common structures include:

* full payment upfront for small fixed engagements;
* deposit + completion;
* milestone payments;
* monthly billing for longer work;
* recurring monthly retainer.

## Protect concentration risk

If one client represents most of your revenue, the commercial relationship is also a business-risk exposure. Build pipeline before the engagement ends.