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Budget and accruals setup

Budget Setup | Overview and Checklist

This topic details the steps for configuring budgeting functionality in Tracker. All companies should complete steps 1–5. If your company plans to use the Departmental Budgeting/Reforecasting module, also complete steps 6–7.
STEP 1: Review the budget setup options
  1. Select
    Settings
    in the left navigation.
  2. Under
    eBilling & Financial Setup
    , click
    Budget & Accrual Setup
    .
  3. The budget options are contained in Questions 1-4 on the Budget & Accrual page. For Question 4
    Activate the Departmental Budgeting/Reforecasting Module?
     select
    Yes
    . This is necessary so that you can see all of the questions related to the setup of the Departmental Budgeting/Reforecasting module.
  4. Answer the questions on the page.
  5. Scroll down to
    Setup Analysis
     at the bottom.
  6. Select
    View a cumulative burden analysis of your budget and accrual selections
     to generate an analysis of your selections. This will help you evaluate whether the cumulative effect of your selections will be overly burdensome for users.
  7. Take a screen capture of this page. You will review this analysis with your Client Success Manager or Tracker Support.
Step 2: Review your accrual and budget setup with your Client Success Manager
Email the screenshot you made in the previous step to your Client Success Manager or Tracker Support and review the analysis.
STEP 3: Review the Calendar of events
You should configure the Calendar of Events before Tracker updates your budget settings. Before setting the dates, it is critical to understand that the dates established in the calendar of events apply to all required actions in your system.
Step 4: Coordinate with your Client Success Manager or Tracker Support regarding when Tracker will update your accrual settings.
You will need to be prepared to complete steps 5-9 on the same day your settings are updated in Tracker. This is important to ensure that the correct emails and alerts are sent.
A Tracker Database Administrator will update your accrual and budget settings. You should coordinate with Tracker regarding when this should occur, but you do not need to do anything until you are notified that the update has occurred.
Step 5: Review and update the calendar of events
You should update the calendar of events on the same day that Tracker updates your accrual settings.
STEP 6: Make adjustments relating to required law firm matter budgets (if necessary)
If you selected the option
By default, generate the Departmental Budget/Reforecasts using the Law Firm Matter Budgets in each matter
 for Question 4.1, law firm matter budgets will be required in all matters.
You can make some adjustments if you do not want all law firm matter budgets to be required:
  • If appropriate, edit the firm profile and change the setting so that the firm is never required to provide budgets. This is not appropriate for all firms and generally should only be used for small, one-off firms.
  • Use the bulk update tool to change the source of the departmental budget or reforecast to be company matter budgets for selected matters, and turn off the law firm requirement in the same matters. Company users can manually change these settings in each matter.
STEP 7: Make adjustments relating to required company matter budgets (if necessary)
If the answer to Question 4.1 is that the default source of Departmental Budgets/Reforecasts are company matter budgets, then they will become required in all matters.
If you selected the option
By default, generate the Departmental Budget/Reforecasts by requiring company users to enter a Co. Matter Budget in each matter.
 for Question 4.1, company matter budgets will be required in all matters.
It is possible to set matters up so that company matter budgets are required in all matters, but allow company users to remove the requirement. The requirement can be removed by editing the matter options for any matter, then making law firm matter budgets the source of the departmental budgets or reforecasting.
STEP 8: Review Matter Group Options (if necessary)
If you have set up matter groups in Tracker, it may be necessary to modify them with respect to departmental budgets and reforecasting. Review the following settings:
  • Whether to generate Departmental Budgets/Reforecasts for the matter group or for each individual matter.
  • If generated at the matter group level, whether or not to turn off Departmental Budgeting/Reforecasting for the matter group.
STEP 9: Review Invoice Auditing Options and Law Firm Matter Budget Options in each Matter Type-Template
Complete this step if you have not already done so. These settings allow you to set up audit rules for invoices posted against law firm budgets, create defaults for the budget type, determine whether law firm matter budgets are required, etc.

This article applies to:

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