Review, Edit and Post Unbilled Amounts
Accruals | Review, Edit and Post Unbilled Amounts
Unbilled amounts are shown on several Tracker pages, including the Accruals Review page and the Unbilled Amounts Report. Company users who have financial data edit permissions in Tracker can edit unbilled amounts,and enter unbilled amounts on behalf of firms and vendors.
Review the accrual profile
To review unbilled amounts and accrual data for a matter, open the matter's accrual profile. If you can edit financial data in Tracker, you can also edit or enter unbilled amounts in the accrual profile.
- SelectMatters>Matter listin the left navigation.
- Click the matter to open it, then clickInvoices.
- To see accrual summary information, selectAccrualsin the first drop-down list.
- Select the accruals period and clickChange View.
- To see an individual firm's accrual profile for the matter, clickView details.
Accrual Report and Unbilled Amounts Report
During the law firm input period, you can monitor unbilled amounts by running the Unbilled Amounts Report. After accruals are locked down, you can run the Accrual Report to see the final data that will be sent to your finance department. In addition, you can export the Accrual Report for an audit record of the accrual: The export shows the source of the Unbilled Total, the amount of Invoices on Hold, and many other details about the final accrual amount. More info: Accrual-Related Reports and Displays
Who can edit or enter unbilled amounts?
Users who can edit financial data in Tracker can edit and enter budget and accrual data. (Companies determine what matter role is required for editing financial data.)
If you are a Matter Admin for the matter, you can follow these steps to see which users can edit financial data:
- SelectMatters>Matter listin the left navigation.
- Click the matter to open it then clickProfile.
- On the toolbar, clickEdit options.
- Users who can edit financial data are listed underFinancial Data Edit Authority.
note
Users who can edit this data can also select delegates with the same edit permissions.
Changing which users are authorized to edit financial data
Only a Tracker Admin can make this change. If you are a company's Tracker Coordinator and would like to have this system setting changed, click
Settings
in the left navigation and under eBilling and Financial Setup
click Budget & Accrual Setup
. The financial data edit authority setting is specified under Question 2. After you select the matter role that is needed for users who will edit financial data, contact your Client Success Manager or Tracker Support.When can companies enter unbilled amounts?
Company users can edit or enter accrual data any time from the Law Firm Input Start Date until the Accrual Period Lockdown Event. Those dates are displayed in the Calendar of Events.
Edit accrual data
Accruals are calculated from the following amounts:
- Prior months unbilled amount
- Current month estimate
- Delivery on Hold Invoices
- ACES LT withheld amount
- Pending invoices that have not been sent to AP yet
Of the amounts shown above, company users can edit only the Prior months unbilled amount and the current month estimate. Tracker calculates the other values when the accruals are locked down.
If a company user edits the unbilled amounts provided by a firm in a matter, then (1) the firm can no longer edit the unbilled amount for that matter and (2) the system automatically sends an email to the Lead Outside Counsel and the firm's Primary Billing Contacts notifying them that the company has edited the unbilled amounts.
Unbilled amounts can be reviewed and edited from the Unbilled Amounts Report on the Company Financial Review page, and from the matter's Invoice History page for the matter.
Performance-based success fee/holdback
Performance-Based Success Fee/Holdback is a fee arrangement that can automatically withhold a percentage from invoices. This option allows clients to reimburse later based own how well the firm performed. The percentage amount is what will be included if a client chooses to have unbilled amounts populated from budgets. (This option is only available if a client requires accruals yearly or quarterly).
Edit Unbilled Amounts
The Company Financial Review page will show only those matters for which accrual review is required. Therefore, if review is not required for an accrual, you must edit it by using the accrual profile for the matter or by running the Unbilled Amounts report.
- Begin by clicking theFinancialmenu item.
- Click theAccrual Reviewsub-menu item to open the Company Financial Review page. Financial information requiring review is highlighted in yellow.
- Find the matter whose unbilled amounts you want to edit, and then clickShow All Law Firms.
- Under the applicable firm/vendor, click view/edit financials to open the accrual profile.
- Enter or edit the unbilled amounts, and then save, or save an approve the changes:
- Do one of the following:
- ClickSave. Amounts will be auto-approved and removed from the Accrual Review page. If the Save option is dimmed, that means unbilled amounts submitted by the firm have already been approved by another approver
- ClickSave and approve. Amounts are saved but can still be seen by accrual reviewers prior to final approval.
Edit unbilled amounts in Unbilled Amounts Report
Because the Company Financial Review page shows only those matters for which review and approval is required, you may want to edit unbilled amounts from the Unbilled Amounts Report, which shows all unbilled amounts.
To edit unbilled amounts from the Unbilled Amounts report, run the report and then click
View/edit
next to the applicable matter.Post unbilled amounts for a firm or vendor
Company users can post unbilled amounts on behalf of any firm or vendor. However, if accruals are required for a matter but a firm or vendor is exempt from entering unbilled amounts (either because the requirement is turned off in the firm profile or for the firm in a matter), then the firm/vendor cannot enter unbilled amounts, and the company is required to enter an amount.
Company users who can edit financial data can post unbilled amounts in the accrual profile. The most efficient way to post unbilled amounts is by using the Unbilled Amounts Report to first generate a list of matters for which company users are required to post the amounts.
If a company user posts unbilled amounts, the firm can no longer post or edit the unbilled amounts for that matter.
- ClickReports > Report Listin the left navigation.
- UnderBudget & Accrual Reports, selectUnbilled Amounts Report.
- UnderStep 2, select the criteria for generating the report. You can generate a list of firms in matters for which company users are required to enter unbilled amounts. To generate a list of matters for which you are required to enter unbilled amounts, underUnbilled Amount Filter, selectCo. input unbilled amts. only.
- ClickGenerate Report.
- Depending on how you have grouped your results, you might see a Detail Report icon next to the entry for which you want to post unbilled amounts. If so, click the icon to see the detail view.
- ClickView/editto open the Accrual profile.
- Enter or edit the unbilled amounts, and then save, or save and approve the changes by doing one of the following:
- Save.Amounts will be auto-approved and removed from the Accrual Review page. If the Save option is dimmed, that means unbilled amounts submitted by the firm have already been approved by another approver.
- Save and approve.Amounts are saved but can still be seen by accrual reviewers prior to final approval.