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Accruals and unbilled amounts

Approve pending accruals

Tracker provides an integrated, efficient, and audited process for generating accrual data (unbilled amounts) and sending it to your company's finance department. It is similar to converting paper to electronic invoicing. Pending accruals require approval during the company review period, which is identified in the accrual calendar of events.
note
The Accruals module is an optional feature that should be turned on for companies that require law firms to provide unbilled amounts.
The Accruals Review page is available only to users with financial data approver permissions. Your company must also have activated the Accruals module and require law firms to provide unbilled amounts.
Approve pending accruals
To approve pending accruals:
  1. Select
    Financial > Accrual Review
     in the left navigation.
  2. Use the dropdown to select the accruals you want to review. You can show all pending accruals, only the accruals assigned to you, or the most recent locked accruals. Select
    Change View
    .
  3. You can also use the
    Filter
     to limit this page to show only the specific accruals you want to work with.
    To include closed amounts, select
    Filter
     nearest the
    Action
    column, then mark the
    Include Closed Matters
     checkbox.
  4. Select each pending accrual you want to approve then click
    Approve selected
    . You can use the
    Ctrl+click
     or
    Shift+click
     shortcuts to select multiple pending accruals. To approve all pending accruals, click
    Select all on page
     then click
    Approve selected
    .
  5. Select the
    Save
    button to save your changes.
Amending unbilled amounts after the company review period
If your company permits amendments to unbilled amounts from law firms after the input or company review period ends, users who edit accruals can amend any unbilled amounts. This helps to ensure that Legal Tracker contains accurate financial data without the need to use a third-party tool.
Required role | Only Tracker Coordinators can make amendments to unbilled amounts, after the Company Review Period has closed.
note
This option must first be enabled in
Settings
using the Budget & Accrual setup wizard.
  1. Select
    Financial > Accrual Review
     in the left navigation.
  2. In the dropdown, select
    Last Locked Accruals
     and select
    Change view
    .
  3. Select the
    Edit
    button next to the submission you want to update.
  4. In the field in the
    Amended Amount
     column, enter the amended amount. The value can be amended multiple times until the next accruals window opens.
Bulk updating amendments to firm unbilled amounts
Tracker provides an option to bulk update amendments to firm unbilled amounts. This option is available if:
  • Firms are allowed to submit accruals before the accrual period ends. This option is configured on question 5.1 on the Budget and Accrual setup page.
  • It is during the company accruals review period
  • You have accruals to review
When the option is available, you can click
Bulk Update
 on the toolbar to open a new page that includes instructions on what to enter, as well as links to file specifications and sample files.
To submit amendment files for bulk update:
  1. Use the
    Currency of Unbilled Amounts
     dropdown to specify the currency for the amounts in the upload.
  2. Next to
    File Type
    , specify the format of file to be uploaded. The upload file can be a .csv, tab-delimited text file, or a pipe-delimited text file.
  3. Click
    Browse
    to locate the source file on your computer.
  4. Check the checkbox to certify that the data in the spreadsheet does not include unbilled amounts for services rendered prior to the start of the company’s fiscal year.
  5. Select
    Save
    or
    Save & approve
    from the toolbar.
    • Save
       updates the record but does not clear it from the page. The record] can still be reviewed and edited.
    • Save & approve
       removes the record from the page. Once a record has been approved, it is no longer available and you cannot use bulk update.
Print the list of pending accruals
  1. Click
    Financial > Accrual Review
     in the left navigation.
  2. Click
    Print
    .
  3. Select your print settings.
  4. Click
    Print
     if you are printing to a printer, or click
    Save
     if you are saving to a PDF.
Export accrual data
  1. Click
    Financial > Accrual Review
     in the left navigation.
  2. Click
    Export CSV
    .
  3. Navigate to where you want to save the exported file.
  4. Click
    Save
    .

This article applies to:

  • Product: Legal Tracker
  • Audiences: Company