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Financial setup

Configuring Miscellaneous Financial Options

Financial options are enabled from
Settings
in the left navigation. In the
eBilling & Financial Setup
 section, select
Miscellaneous Financial Options
.
note
The options available to you on this page depend on your system role.
Setting
Instructions
First Month of the Fiscal Year
The month your fiscal year begins.
Fiscal Year Naming Convention
The fiscal year name as it appears on documents.
Enable Live Invoice Posting
Lets you control whether users can post live invoices. If you select the
No
button next to Enable Live Invoice Posting, users will only be able to post memo invoices.
The
Default to Memo Invoice
 option appears if you select
Yes
for
Enable Live Invoice Posting
. If this checkbox is selected, users can post live invoices, but the default type is memo.
A live invoice is posted as an unapproved invoice and follows the approval route for that matter, as opposed to a memo entry, which is posted as an approved invoice and is not sent for payment.
Enable user options for invoice rejectors
The invoice rejector feature is enabled by a Tracker Coordinator at the company level. To enable this feature, select
Yes
 next to
Enable user options for invoice rejectors
.
Default Number of Days to Post Final Invoice
Lets you set the deadline for posting to a closed matter.
Type a number in the
Default Number of Days to Post Final Invoice
 field to specify the number of days after a matter is closed during which firm users can still submit invoices. The maximum number of days allowed is 999.
Select a button next to
Allow user to change default setting
 to control whether users will be able to change the default number of days to post the final invoice when closing matters.
Allow users to delegate invoice approval authority
Lets you define whether users can assign approval authority to a delegate. Select the
Yes
button next to
Allow users to delegate invoice approval authority
 if you want users to be able to assign a delegate to approve invoices.
Amount subject to tax
Tracker provides fields for you to specify the amount of tax included in your non-LEDES invoices.
Next to
Require "Not Taxed" entry with Amt Subject to tax for Memo, Live, and OTHER FILE UPLOAD invoices
, select
Yes
.
Supporting document type
Lets you define the types of documents that are accepted as supporting documents for invoices.
Select
Add
in the
Supporting Documents
 section and configure the options on the window that opens.
Company Base Currency
Shows your company's base currency. The currency is defined during implementation.
Co. Matter Budget Currency Default:
Lets you specify the default currency for matters. Select an option to specify whether the default currency for matters is the company's base currency or the currency of the matter.
Allow users to choose their currency preference
Lets you specify whether users can change their currency.
If you choose to not allow company users to select a currency preference, all user currency preferences to be reset to your company's base currency. The option to change their preferred currency does not appear on users' Preference page.
Update Standard Exchange Rates
Lets you specify the frequency of exchange rate updates. Next to
Update Standard Exchange Rates
, use the dropdown to select the frequency.
  • The display-only
    Standard Exchange Rates Last Updated
     field shows when exchange rates were last updated.
  • The
    Next Standard Exchange Rates Update
     field shows when exchange rates will be updated next.
Enable task code alerts.
Shows whether your company uses task code alerts.
Enable Pre-configured task code alerts
Check the
Enable Pre-configured task code alerts
checkbox if you want to enable task code alerts for your users.
Enable custom task codes setup
Shows whether custom task codes are set up.
Enforce strict UTBMS requirements for task code entry
Shows whether users must use UTBMS task codes.
Require LEDES UTBMS Expense Codes
Shows whether UTBMS task codes are required in LEDES invoices.
Require Fee Arrangement(s)
Lets you define whether fee arrangements must be included in invoices.
Set default lead firm to Standard Hourly Rates
Lets you define whether the lead firm uses standard hourly rates instead of alternative fee arrangements.
Include tax in flat/fixed/capped fee arrangement calculations
Lets you define whether to include taxes in these types of fee arrangements.
Allow invoice auto approval with alternative fee arrangements
Lets you define whether invoices that include AFAs can be automatically approved.
Display Total Firm Spend:
Lets you define whether the total amount the firm has spent appears in invoices.
Enable Proforma invoice functionality
Lets you enable this option for your users.
Enable Proforma invoices modifications
Let you control whether users will be able to make changes to pro-forma invoices.

This article applies to:

  • PRODUCT: Legal Tracker
  • Audiences: Company