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
- 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.
Clicking on the gear icon on the top left of the first chart brings up the 'Add Panel' screen. From here, select charts to add to the Dashboard.
If the chart has a hand icon, it indicates that drilled-down information is available for the chart and users can click on the 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 action.
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.
The charts also display drilled-down information when the user clicks on the Client's bar. When hovering over the bar, the cursor changes from an arrow to the hand icon and when the user clicks on the bar, the details appear on a new screen within the Chart.
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.’
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 that the Timekeeper has worked on.
Top Client
The Firm's Top Client chart filters data based on 'Worked,' '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.
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.
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.
