Read my post above in conjunction with below for why receipts look low
13.2m Receipts
2.4m Factored advances
1.7m Bad debt provision
.65m Movement in receivables
17.95m total
17.7m revenue
Its closer than it should be because there is GST in some and not in others. I put this here not for it to be the definitive reconciliation but to illustrate one way to analyse the gap between revenue and cash receipts from customers and to explain how the factoring facility distorts the financials.
