Budget
The matter-specific Budget dashboard provides thorough performance statistics for the entire lifetime of the matter, comparing actual performance vs. the matter budget. Each section of the dashboard is described below. All actions that can be performed on this report are also described.
KPI Panel
The KPI panel displays the following information:
| Field | Description |
|---|---|
| Budget Start Date | Start date for the budget. |
| Hours | Total hours entered for the matter. |
| Leverage | Ratio of non-Partner hours to Partner hours worked for the matter. |
| Total Fees (Estimated Effort) |
Total Fees for all hours entered for the matter. Tip: You can show / hide the Total Fees (Estimated Effort) for various users. Admin: Permission Group: Budget>View Total Fees in Planning & Budget Overview |
| Total Budget |
The Total Budget estimated for the matter. Tip: You can show / hide the Budget amount for various users. Admin: Permission Group: Budget>View Total Budget in Planning & Budget Overview |
| Expenses | Total Expenses entered for the matter (only displayed for Hourly Standard Arrangement types) |
| Total (Fees + Expenses) | Sum (Fees + Expenses) for the matter (only displayed for Hourly Standard Arrangement types) |
Note: For matters with multiple fee arrangements and ongoing phase dates, the budget type is displayed as Complex Budget in the left hand side KPI panel. For budgets with defined phase(s) the Monthly and Total Budget are displayed . For a Recurring Fixed Amount (Retainer) arrangement, the selected Recurrence mode selected is displayed. The amount is updated based on the sharing option selected for the phases.
Tabs
Overview
The following information is listed for each phase in the matter as well as in total, before and after any bottom-of-the-bill discounts are applied.
| Column | Description |
|---|---|
| Start | Start date for the phase. |
| End | End date for the phase. |
| Hours | Total hours worked. |
| Average Rate | Average hourly rate for the hours worked. |
| Leverage | Ratio of non-Partner to Partner hours. |
| Budget | Total amount budgeted. |
| Profit Margin | (Revenue - expenses) / revenue. |
| Realization |
Revenue / value of hours worked at firm standard rate. |
Click the View Spend Budget button to view spend planning for budget.
By Phase
A bar graph shows the duration of each phase in months.
Time
A bar graph shows the fees budgeted for each month in the lifetime of the matter. At the bottom of the screen, select a month to view the individual time entries included in the budgeted hours, including the timekeepers and task codes/descriptions, if applicable.
Hours
Two donut graphs display, one showing how budgeted hours are distributed by fee earner class, the other showing how they are distributed among individual timekeepers. A chart below each graph lists the fee earner classes/people that make up the graphs and the total hours/amounts for each.
Expenses
A bar graph shows the firm expenses for each month. At the bottom of the screen, select a month to view the individual expenses that make up the total.
Report Actions
To access these options, click the drop-down arrow in the upper right corner of the screen. In the action menu that displays, the Report tab should show by default.
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To adjust dates
- Click the Adjust Dates button on the Report tab.
- Modify the Start Date and/or End Date for the matter or for any of the phases listed.
- You can also mark a phase as Closed by clicking the checkbox. The Closed Date then defaults to today.
- Click Save to apply your changes.
- To edit the matter budget, click the Edit in Wizard button on the Report tab to access the Create Budget Wizard.
Note: The Adjust Dates and the Edit in Wizard options are disabled for locked pricing models.
To view both firm and client expenses paid by Client, turn on option for Show Total Expenses.
Matter tab detailed in About Matters.
Note: The Matter Budget Page will not be displayed if there are no Pricing Models created for a matter.
