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Budgets

Departmental Budgets and Reforecasts | Due Dates

During system configuration, Tracker Coordinators determine when initial and renewed budgets are due. Users can view due dates on the Calendar of Events.

Budget due dates

Departmental budgets may be generated from law firm matter budgets or from company budgets. A matter can also have both a law firm matter budget and a company budget running side-by-side.
When budgets are required, users must enter an initial budget, and if the matter spans multiple fiscal years, a renewed budget is due before the start of the next fiscal year. Due dates cannot be changed per matter.
Departmental budget due dates when the budget is generated from the law firm matter budget
If a departmental budget is generated from the law firm matter budget only, the initial and next fiscal year departmental budgets are due at the same time as the law firm matter budget.
In addition, it is important to note that budget, accrual, and status report due dates are all related, and they are controlled by the Calendar of Events, which can be edited only by a Tracker Coordinator.
Reforecast due dates are configured in Settings. A company system administrator decides when reforecasts are due, but a Tracker Database Administrator must save the changes. Law firm users receive an email notification and—if updating is required—an Action Items alert to enter reforecasts. Whatever budget is in place on the day the reforecast is due will be saved as that reforecast, providing a permanent snapshot of the department's spending projections at that point in time.
Users can see when budgets and reforecasts are due by viewing the Calendar of Events.
Departmental budget due dates when the budget is generated from the company budget
If the company budget is the source of the departmental budget, the initial company budget is due at the time of the next fiscal year's budget or reforecast, whichever is sooner. Company users with financial data review status (budget reviewers) will receive an email notification and an Action Items alert directing them to enter a company budget.
Company reforecast due dates are configured in Settings. Company financial data reviewers receive an email notification and—if updating is required—an Action Items alert to enter reforecasts.
Tip | You can view the Calendar of Events to see when budgets and reforecasts are due.

Viewing budget due dates

Users can see budget due dates by viewing the Calendar of Events. The Company Tracker Coordinator determines the month in which the budgets are due in Settings. However, only a Tracker database administrator can change the due date for budgets. In addition, it is important to note that budget, accrual, and status report due dates are all related, and they are controlled by the Calendar of Events, which can be edited only by a company system administrator or higher.

Alerts and notifications

Alerts when the departmental budget is generated from the law firm matter budget
If the law firm matter budget is the source of a required departmental budget, law firm users with a role of matter editor or higher will receive an Action Items alert as well as an email notification (if allowed) to submit a budget.
If a required budget is overdue, Tracker holds the law firm's invoices until the budget is submitted.
In addition, if the matter spans multiple years and the law firm has not submitted a budget for the next fiscal year, the law firm will receive another required budget alert in advance of the fiscal year.
Alerts when the departmental budget is generated from the company budget
If the company budget is the source of the departmental budget, budget reviewers will receive an email notification and—if updating is required—an Action Items alert, directing them to enter a company budget.

This article applies to:

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

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