Reports for Managing Projects for Billing

These WorkSov reports can be accessed in the Reports>>Managing Projects section, which comprises the following reports:

  • Resource Allocation – use this report to assess availability of billable resources
  • Budget – budgeted hours, fees, and costs for billing projects

Following are the generated reports:

 

 

Term “Fees Collected Amount” on Reports

  • The total amount of fees collected is the amount collected after expenses, taxes, interest, adjustments, discounts, and commission holdback are subtracted
  • Payments marked with the “written off” type are not included in the total amount of fees collected
  • Additionally, the entries that have been “deleted” (written down) during the invoice edit process are also not counted

 

A Reports Overview

With TimeSolv reports, you get a precise analysis of your company’s activities using your own data. Reports can be downloaded in 10 formats for ease of viewing or further analysis.

  • Click the Reports tab to access reports.

Reports Dashboard

 

Time and Expense Reports

These reports can be accessed in the Reports>>Time and Expense section which comprises of the following reports:

  • Time Entries
  • Time Entry Summary
  • Expense Entries
  • Missing Time
  • Activity/Task Summary

Following are examples of the generated reports:

  Time Entries2

 

time entry summary2

 

   exp entries2

missing time2

 

task summary3

 

 

 

 

Revenue and Commissions Reporting

The Revenue and Commissions Report enables firms to track allocated payments back to individual timekeepers and optionally calculate timekeepers’ and managers’ commissions based upon specified percentages.

The report calculates collected revenue amounts based on the invoice total and allocated payments, which are then proportionally credited to each timekeeper. When an invoice is paid in full, the reported revenue for each timekeeper will equal their individual billed fee amounts. However, in situations where the total invoice amount was not collected in full, the revenue brought in by each timekeeper will be calculated proportionally based on each timekeeper’s total billable fees against the total amount of fees collected. (See the details below for how Fees Collected Amount is determined).

The optional Commissions Reporting portion of the report will calculate timekeeper, staff manager and project manager commissions based upon the revenue and payment values described above.

The report allows fee revenue to be reported as time only or time and expenses.

See also the:

How to create a report for Billable Matters Only

To run time cards or expense cards reports by a specific category of clients or project/matter, create a category and apply it to client and project. For example, to categorize reports based on billable or non-billable categories, create a category titled Billable and category name as Yes or No as shown below. Click on the project name to find the Billable drop down with Yes and No options. Next run a time cards report by selecting the Yes or No option for Billable drop down.

 

 

Custom Fields to Create Reports for Specific Clients, Matters, or Timekeepers

TimeSolv now provides custom categories for clients, matters or timekeepers for filtering all reports.This feature was previously only available for time cards and expense cards reports. For example, you have three types of clients or matters: Divorce, Wills, and Child Custody. You can create client or matter categories under Advanced Setup and apply the categories to clients and matters.

Benefit

Create reports for specific group of clients, matters, or timekeepers.

How to apply categories to Clients and Matters

  1. Go to Clients>>Settings>>Categories.
  2. Click the Create New Category link to create a category
  3. Drill into any client name and select the desired category from the Client Group drop down.

Note: Client Group would be inherited automatically by new matters. For existing matters, you will have to select a category manually.

How to use Client and Matter categories to filter reports

Go to reports, select any report that has a client or matter as data filter.  For example on Time Cards report, select the desired client category from the Client Group drop down to filter time cards for matters categorized as the desired client category.

How to apply categories to timekeepers

  1. Go to Accounts>>Settings>>Staff Member Groups
  2. Create staff member groups and sub-groups
  3. Drill into a staff member
  4. Specify the desired Staff Category and Staff Sub-Category in the custom fields

How to use Timekeeper categories to filter reports

Go to reports, select any report that has a timekeeper as data filter.  For example on Time Cards report, select the desired staff category and sub-category from the custom drop downs to filter the time cards.

Reports for Managing the Billing Firm

These reports can be accessed in the Reports>>Managing the Firm section which includes the following reports:

  • Task or Activity Codes – categories for time tracking.  Required for LEDES billing.
  • Expense Codes  – categories for time tracking.  Required for LEDES billing.
  • Timekeepers and Rates
  • Clients and Projects
  • Tax Listing
  • Abbreviations

Following are the generated reports:

 

 

 

 

 

Performance Reports

These reports can be accessed in the Reports>>Performance section which comprises of the following reports:

  • Firm Performance
  • Time Budget
  • Client Rankings
  • Timekeeper Profitability
  • Revenue and Commissions

Following are the generated reports:

 

 

 

 

 

 

 

 

 

Realization Reports

These reports can be accessed in the Reports>>Realization section which comprises of the following reports:

  • Realization per Client
  • Realization per Invoice
  • Realization per Timekeepers

Following are the generated reports:

 

 

 

 

 

Invoices, Payments and Trusts Reports

These reports can be accessed in the Reports>>Invoices, Payments and Trusts section which comprises of the following reports:

  • Invoice Summary
  • Aged Invoices
  • Invoices and WIP Aging
  • Cash Receipts
  • Payment History
  • Trust Banking

Following are the generated reports:

 

 

 

 

 

 

 

 

 

Accounting Reports

These reports can be accessed in the Reports>>Accounting section which comprises of the following reports:

  • Accounts Receivable
  • Ledger Entries

Following are the generated reports: