i think it is simple... some use “quarterly” to describe both...

i think it is simple... some use “quarterly” to describe both the cashflow report and activities report and sometimes just one or the other.

- cashflow only includes payments received.
- activities will sometimes include an indication of invoiced amounts.

hence the confusion when one is referring to a specific part of the update and another referring to the other.

the other explanation is HC is rife with ill informed, and/or crafty buggers that no how to twist the truth to portray a preferred narrative.