Unbilled Amounts Report
Use the Unbilled Amounts report to monitor unbilled amounts as they are entered. The Unbilled Amounts report does not contain the final accrual amount to be sent to the finance department.
The Unbilled Amounts Report vs the Accrual Report
In short, the Unbilled Amounts report is used during the input process, and the Accrual report is used after the input process and the accrual has been locked down. Below is a more detailed list of the differences between the two reports:
- The Accrual report is for your company's finance department. The primary data output of the Accrual report is the Accrual Period Ending Balance, which is the sum of the law firm unbilled amounts plus the pending invoices in Tracker that have not been sent to AP. This is the amount that your finance department will use to accrue amounts to the various business units. In addition, the Accrual report includes the Remaining Accrual Balance, which is important for financial record keeping going from one year to the next.
- The Unbilled Amounts report is intended to be used by your law department to monitor and assist with the input of unbilled amounts. This report gives you a more detailed view of the unbilled amounts entered (or those that are incomplete) by your firms and vendors. The on-screen view also shows you the latest invoice service period, so that you can see if the unbilled amounts make sense given the last work for which you have been invoiced. Also, during the firm and company accrual input periods, Company System Administrators and users with financial data edit authority can enter or edit the unbilled amounts.
- The Unbilled Amounts report includes fields related to proforma invoicing.
When to run each report
The Accrual report can be run only after the accrual period lockdown. On the other hand, the Unbilled Amounts report can be run at any time after the input period begins. As discussed above, this is because the report is intended to facilitate your law department in monitoring and inputting or editing unbilled amounts, while the Accrual report is the data that has been locked down and is sent to your finance department.
Generating the Report
To generate the Unbilled Amounts report:
- From the menu, clickReportsand thenReports Enginefrom the sub-menu.
- UnderPre-configured Only, clickUnbilled Amounts report.
- UnderStep 2 - Criteria, use the fields, filters, and date ranges to configure your report. Note the only required field isGrouped Byand it is prefilled withFirm/Vendor in Matter.
- ClickRunon the toolbar.
Viewing or Editing the Unbilled Amounts Directly from the Report Results
If you generate the report using the default grouping of Firm/Vendor in Matter, you can view more information by clicking the details link in the far-right column. If you are a Company System Administrator or have financial data edit authority, a view/edit action is available during the law firm and company input periods (before the accrual lockdown).
note
After a company user enters or edits an unbilled amount, law firm users are prohibited from editing that amount even during the firm input period. Also, if you edit an amount entered by a firm an email will be sent to the firm notifying them that the amount has been edited.
Details and Specifications
There are certain filters you can use to ensure that the appropriate results are displayed. The Unbilled Amount Filter is set to Show All by default, but other settings may be helpful.
These options are available for the Unbilled Amount Filter:
- All LF required unbilled amts.: Use this filter to see a list of all firms/vendors that are required to enter unbilled amounts regardless of whether they have entered the unbilled amounts.
- LF required but incomplete unbilled amts. only: Use this filter to see a list of all firms/vendors that are required to enter unbilled amounts but have not yet entered an amount. This is useful when you have obtained unbilled amounts from a vendor and want to enter the amounts directly for the vendor. On the other hand, if you want to send an email reminder to those firms or vendors with incomplete unbilled amounts, you should instead use the Stuck Financial Data report, which has email capability built into the report.
- Co. input unbilled amts. only: Use this filter to see a list of firms/vendors in matters for which unbilled amounts are not required, and for which company users must enter any unbilled amounts.
Details about the Report Results
Data | Comments |
|---|---|
Currency of amounts shown | All values shown in the on-screen report and in the export will be in the user's currency preference, regardless of the currency of the unbilled amounts. |
Input Configuration | This field shows which user is responsible for the input of the unbilled amounts (this setting is specified in the Matter Options for the matter). Co. means that only a company user can input unbilled amounts (the unbilled amounts requirement has been turned off for the firm in the Matter Options, and the firm cannot enter unbilled amounts). LF means that the firm/vendor is required to input the unbilled amounts. Note that company users can still input the amount for the firm/vendor. If a company user does enter the amount, "LF" will still be shown in the report (because value shown is the setting in the matter options, not who actually entered the unbilled amounts). |
Prior Months Unbilled | This is the unbilled amounts from the beginning of your current fiscal year through the last full calendar month. It does not include unbilled amounts from prior fiscal years. NOTE: If your company requires unbilled amounts monthly, and it is the first month of the fiscal year, this field will be blank. |
Current Month Estimate | This is the estimate of unbilled amounts for the current month of the accrual. If your company receives unbilled amounts AFTER the end of the month, this field will always be blank (i.e. the only field that is completed is the Prior Months Unbilled). |
Invoices on Hold | If the firm has incomplete tasks in a matter when they post an invoice, the invoice is saved but is not delivered; it is called a Delivery on Hold invoice. Company users cannot view the invoice, but the amount is shown in this report and included in the Unbilled Total. |
Other Withheld Amounts (in export only) | This is applicable only if you are using a performance-based arrangement. |
View/Edit | The view action is always available and opens the accrual profile. Company System Administrators and users with financial data edit authority will see the view/edit action during the law firm and company input periods (before the accrual lockdown). |