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Budgets

Law Firm Matter Budgets | Due Dates

During System Setup, your Tracker Coordinator determines when law firm matter budgets will be due. The date of the initial budget is based on when the matter is created, and the date for budgets for the next fiscal year is a specified number of months before the start of that year. You can view the due dates in the Calendar of Events.

Initial budget due date

Required role | Only a Tracker Coordinator or Backup Tracker Coordinator can configure the due dates for budgets.
The initial budget for a matter is due by a specified time after the matter was created or the law firm was added to the matter. This specified time, such as 30 days or 60 days, is set in the matter template and cannot be changed for an individual matter. If a required budget is not submitted by the due date, Tracker will put the firm's invoices on hold.
note
A budget may be entered or edited at any time before the due date, unless the budget is locked.

Budget due date for next fiscal year

Required role | During system setup, the Tracker Coordinator selects the due date for budgets for the next fiscal year. However, only a Tracker database administrator can change this setting.
If a matter spans multiple fiscal years, a new budget is due every year in a specific month. For example, the budget for a fiscal year that starts in January might be due in October of the current year. To ensure efficiency, all law firm matter budgets are due during the same month each year.
Budget, accrual, and status report due dates are all related and are controlled by the Calendar of Events.
To view due dates for budgets, click
Home >Budget Schedule
 in the left navigation.

Alerts and notifications

If a budget is required for a matter, any law firm user with a matter role of matter editor or higher will receive an Action Items alert. Users may set their preferences to also receive email notifications.
If a required budget is overdue, Tracker holds the law firm's invoices until the budget is submitted.
Company financial data reviewers (budget reviewers) are notified via email and an Action Items alert to review and approve law firm matter budgets.

Optional law firm matter budgets

Even if budgets are not required, they can still be submitted by company or law firm users. A budget that is not required will not have a due date.
Your company might require a company user to submit the law firm matter budget. In that situation, the budget should not be required, so the law firm users will not receive alerts regarding due dates, and invoices will not be held if the budget isn't submitted on time.

This article applies to:

  • PRODUCT: Legal Tracker
  • Subject: Budget,Matter
  • Audiences: Company