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Accrual report

Run the Accrual report (pre-configured only) after all unbilled amounts have been entered and the accrual has been locked down. The Accrual report is used primarily by finance departments to see the Accrual Period Ending Balance, which is the sum of the law firm unbilled amounts plus the pending invoices in Tracker that haven’t been sent to AP.
Data
Comments
Currency of amounts shown
All values shown in the on-screen report and in the export will be in your currency preference, regardless of the currency of the accrual data.
Unbilled Total
The total of the prior months unbilled amount and the current month estimate.
Prior Months Unbilled (in export only)
The prior months unbilled amount (not yet uploaded to Tracker) includes services rendered from the beginning of your fiscal year through the last full calendar month. The date range is shown under the field name. If it is the 1st month of the fiscal year, then there will be no prior months unbilled amount because unbilled amounts can never be entered for a prior fiscal year. The prior months unbilled amount doesn’t include the amount of any delivery on hold invoices.
Current Month Estimate (in export only)
This is the estimated amount of billing for services to be rendered in the month shown after the field name. This field is only required if you have set up accruals so that unbilled amounts are due before the end of the month.
Note, this amount could have been automatically filled in by Tracker based on the matter budget. Refer to your budget & accrual setup to verify settings.
For budgets that are entered in a quarterly, annual, or phased format, the amount for the month will be calculated using an average amount for the months in the budget period. However, if the unbilled amounts are never saved, the amounts prefilled from the budget won’t be saved, and the unbilled amount will be recorded as a blank.
Invoices on Hold (in export only)
This is the total amount of the invoices that have been uploaded by the law firm but are on hold and can't be paid because the law firm has incomplete tasks pending.
Other Withheld Amounts (in export only)
This only applies if you are using a performance-based arrangement.
Inv. Pending/Unsent to AP
This column reflects the Billed amount of the pending invoices as they were submitted by the firms and doesn't include if invoice approvers have proposed reductions to the invoice totals.
This amount doesn’t include invoices with a billing period end date in a different fiscal year than the accrual. For the following example, assume the following:
A company has a fiscal year that starts on January 1.
The accrual period being viewed in the report is January 2009 (assume the user is viewing the report on Feb. 2, 2009).
An invoice with a billing period end date of December 31, 2008 was pending when the January accrual was locked down.
The invoice won’t be included in the Inv. Sent to AP After Accrual amount because the accrual is in fiscal year 2009 but the service period end date of the invoice is in fiscal year 2008.
Invoice Amt Unsent to AP (prior FYs)
(in export only)
Same as earlier but for the prior fiscal year.
Accrual Period
Ending Balance
This is the total of the unbilled amount submitted by the law firm plus any pending invoices (invoices that haven’t yet been sent to AP).
Inv. Amt Sent to AP After Accrual
This amount is shown only if (a) the accrual is the most recently locked down accrual or (b) the accrual was the accrual in the last month of the fiscal year.
Remaining Accrual Balance
This amount is shown only if (a) the accrual is the most recently locked down accrual or (b) the accrual was the accrual in the last month of the fiscal year.

Comparing the accrual report and the unbilled amounts report

Use the Unbilled Amounts report during the input process, and the Accrual report after you lock down the input and accrual processes Here are the differences between reports:
  • The Accrual Report is for your company's finance department. The primary data output of the Accrual report is the Accrual Period Ending Balance, which is the sum of the law firm unbilled amounts plus the pending invoices in Tracker that haven’t been sent to AP. This is the amount that your finance department will use to accrue amounts to the various business units. In addition, the Accrual report includes the Remaining Accrual Balance, which is important for financial record keeping going from 1 year to the next.
  • The Unbilled Amounts report is intended to be used by your law department to monitor and assist with the input of unbilled amounts. This report gives you a more detailed view of the unbilled amounts entered (or those that are incomplete) by your firms and vendors. The on-screen view also shows you the latest invoice service period, so that you can see if the unbilled amounts make sense given the last work for which you have been invoiced. Also, during the firm and company accrual input periods, Company System Administrators and users with financial data edit authority can enter or edit the unbilled amounts.
  • When to run each report: The Accrual report can be run only after the accrual period lockdown. On the other hand, the Unbilled Amounts report can be run at any time after the input period begins. As discussed earlier, this is because the report is intended to facilitate your law department in monitoring and entering or editing unbilled amounts, while the Accrual report is the data that has been locked down and is sent to your finance department.

This article applies to:

  • Product: Legal Tracker
  • Subject: Reports
  • Audiences: Company