Financial Dashboard
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, 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
– WIP
– Billed
– Receipts
– Allocated
– 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.
Clicking on the Add Charts button on the top left of the first chart brings up the “Add Charts” window. Users can search for charts and use the “Add” button to add the Charts. To remove a chart, click on the gear icon on the respective chart.
If the chart has a hand icon, it indicates that drilled-down information is available for the chart, and users can click on the chart’s bar to view the details.
To remove a chart, click the gear icon on the respective chart and then click on the “Remove” button.
The image below shows how the charts can be added and repositioned by drag-and-drop feature.
The Dashboards also saves user preferences so that when the user returns or uses a different browser/computer, their last selections are shown as persisted. The implementation is specifically applied to the Chart input elements and the dropdowns.
In the example below, the Dashboard is initially opened in the Microsoft Edge browser and then the user logs out and uses the Chrome browser to view the Dashboard. The same dropdown options on the charts appear that were previously selected when the user logged out.
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 Timekeepers
Users can view their Firm’s ‘Top Timekeepers‘ for the selected period based on the Worked, WIP, Billed, Collected, and Accounts Receivable.
Select from the ‘Top 5’ or ‘Bottom 5’ Timekeepers using the second dropdown selector to analyze different performance spectrums.
Clicking on the bar next to the Timekeeper changes the chart to show a drilled-down view of the Clients and Matters with the Timekeeper’s Amount, Fees and Expense. Under the Billed view, the Matter name drills down to show individual invoices. Clicking on the Invoice number opens a new tab displaying the Invoice Details screen for the respective Invoice.
Top Clients
The Firm’s Top Clients chart filters data based on Worked, WIP, Billed, Collected, and the client’s Accounts Receivable.
The second dropdown selector filters the data on the Firm’s Top 5 or Bottom 5 Clients.
When the user clicks the Client bar, a new screen within the chart displays drilled-down information in a table. Selecting an option from the first dropdown shows the following information with the Client’s name displayed at the top of the table:
– Worked drills down to Matter Name, Time, and Expense. Clicking on one of the Matters, the table drills down further to show Timekeeper, Time (Worked Amount for Time), and Expense (Worked Amount for Expense.)
– Billed drills down to Matter Name, Billed Amount. Clicking on one of the Matters, the table drills down further to show the Invoice Number. On clicking the invoice number, the respective invoice is opened on a new screen with the Date, Invoice Total, and Matter Total.
– Collected drills down to Matter Name, Collected, Allocated, Unallocated. Clicking on one of the Matters, the table drills down further to show the Date, Payment Method, Reference, and Amount.
The collected amount includes the Unallocated and Allocated Payments, including Trust transfers, but excludes Write-offs and Credit Memos.
– Accounts Receivable drills down to Accounts Receivable and Type (Unallocated Payment, Unallocated Credit Memo, Unallocated Write-Off, and Invoice)
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.
Users can drill-down on the Client names to show pending Invoices for the selected Client. Clicking on the invoice number opens a new tab displaying the Invoice Details screen for the respective Invoice.
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 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 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.
Hourly Rate
This chart shows the monthly hourly rate for the current and prior years. When the user clicks on the bar, a new window displays the Amount, Hours, and Rates for all the Timekeepers for the selected month.
The average hourly rate for a month is calculated as follows:
Ave. Hourly Rate = Total Amount for the Month / Total Hours for the Month.
Billing Performance
This chat 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.
Zero AR
Displayed as a pie chart, the Zero AR chart shows with and without Zero AR data over an Average Collection Period, Invoices charged, and the Collected Amount. It also shows the count of Invoices that have been collected and the total amount collected through Zero AR. 
WIP Chart
The WIP Chart shows the aging for WIP. WIP is calculated on the Time and Expense card data over different periods and is displayed as bars with the Total shown against each bar. Users can select WIP, Time only, or Expense only.
Clicking on the bar drills down to show Client-Matter with their respective WIP, Time, and Expense details.
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.
