Overview
The Financial Dashboard shows an aggregated financial view of the whole firm based on different criteria like the Firm's top revenue-generating clients, top debtors with their aging or the frequently used collection method used by the clients, and many more.
The information on the Dashboard is presented in three different sections:
- Metrics Bar – Presents users with an overview of the Financials in the form of metrics.
- Graphical Charts – Show a segregated view of the data based on different criteria.
- Data Table – This shows a simple, summarized view of the data in a tabular form against each Client-Matter.
Filters
To view the Firm Financial Dashboard, navigate to Dashboard>Dashboard>Financial tab.
The Date Range field allows users to filter data based on the selected period or provide a custom date range to view data between specific dates. Similarly, Client and Matter filters further drill down and track the financial performance specific to the selected Client/Matter.
Financial Metrics
The Metrics bar gives the users a quick view of the Firm's Financials for the selection made from the 'Date Range' dropdown. Each metric is briefly described in the tooltip when users hover their mouse cursor over the 'i' icon next to the titles.
Hovering the cursor over the amount brings up the tooltip with the breakdown of the amount or the calculation used to get to that amount.
The Worked, Billed, Collected, and AR metrics have increase/decrease indicators to show the year-to-year (YoY) variance as a percentage. Except for AR, the increase in rate is indicated by a green, upwards-facing arrow, while the decrease is shown as a red arrow.
The Metrics bar shows an overview of the following for the selected period:
- Worked
- Billed
- Collected
- AR
- Write-offs
- Credit Memo
- Adjustments
- Discounts
- Interest
- Trust Deposits
Graphical Charts
Below the 'Metrics' are the graphical Charts with detailed data. Each chart has an information icon that briefly explains what the chart is about when users hover over it. These charts can be dragged and dropped to have them displayed according to the user's preferences.
Charts can be added by clicking the gear icon on the top left of the first chart, which opens up the 'Add Panel' screen.
Similarly, clicking the gear icon on the respective chart allows users to remove the graph.
Similar to the Staff and Client Dashboards, the Firm's Financial Dashboard shows users an aggregated view of the whole firm based on different parameters. Hovering over the values or other areas of the chart brings up the respective tooltip with a brief description of the element.
Users can also zoom in on a chart by selecting the portion to view. To switch back to the normal mode, use the Reset Zoom button.
The Firm's Financial Dashboard has the following Charts:
- Top Timekeeper - Users can view their Firm's 'Top Timekeepers' for the selected period based on ‘Worked,’ 'Billed,' 'Collected,' amounts, or ‘Accounts Receivable.’
If the user clicks on the bar next to the Timekeeper, the chart changes to show a detailed view with a breakdown of Clients and Matters that the Timekeeper has worked on.
Select from the ‘Top 5’ or ‘Bottom 5’ Timekeepers using the second dropdown selector to analyze different performance spectrums.
- Top Client - The Firm's Top Client chart filters data based on 'Worked,' 'Billed,' 'Collected,' and the client's 'Accounts Receivable.'
The Firm's ‘Top 5’ or ‘Bottom 5’ Clients can be viewed using the second dropdown selector to analyze different performance spectrums.
Top Debtors - This chart lets users view the top 5 debtors of the firm that have the highest outstanding balance. For each debtor, this chart also displays additional details such as the Age of the oldest Accounts Receivable, the Count of Invoices, and the Total Outstanding Balance.
Collection - View the current and previous year's monthly collection performance. For each month, this chart also shows how much of the collected amount is allocated and how much still remains unallocated.
Collection By Payment Method - Shows, at a glance, the most and the least popular payment methods based on the amount collected.
Collection Performance - This chart shows the collection performance for the selected period by comparing the total amount worked to the amount collected. This chart also displays the billable and billed amounts to show the whole progression.
Aged Invoices - This shows the aged balance for your Invoice as of today. It provides the option to select whether you want to view the balance for Fees, Expenses, or both.
Billable Rate - This chart shows the monthly billing rate for the current and prior years.
The average billing rate for a month is calculated as follows:
Ave. Billing Rate =Total Billable Amount for the Month / Total Billable Hours for the Month.
Billing Performance - lets the users view the Monthly Billing Performance for the current and the previous year based on the number of Invoices sent and the Invoiced amount.
Financial Data Overview
The Data Table provides a quick view of some essential attributes associated with the Client-Matter. Clicking on a Client under the Client-Matter column expands the row to list all the Matters for the Client, while a third level further drills down to display a breakdown for the Staff.
