The Collection Report contains collected fee income allocation.
To Access Report
Go to Reports > Financial Productivity > Collected Fee Allocation
Matter Owner: Choose all matter owners or a specific matter owner
Date Range: The date range options you have are All Dates, Last Month, Last Year, This Month, and This Year
To preview the report, click view.
To download the report, choose the ‘print as’ format (PDF or Excel) and click Download
Understanding Key Terms Of The Report
The report is always generated for a date range. The system analyzes all the invoice payments applied in this date range, irrespective of the Invoice date.
Any type of Retainer payments are not considered “Invoice Payments” and will not be part of this report.
If any invoice discount is applied, it is basically being born proportional to each person’s contribution/role. If you wish to allocate discount only to a particular timekeeper, you can enter a flat rate time card with negative amount for that timekeeper and include it in the invoice prior to applying payment. This will effectively reduce invoice total and reduce compensation of only the selected timekeeper.
Billed Fee: This is the fee portion of the Invoice. If the Party is Timekeeper, it is the total billed fee of this particular Timekeeper. If the Party is any other role (i.e. Originating Attorney, Responsible Attorney, etc), then Billed Fee is the total billed fee of the Invoice.
Collected Fee: When Invoice payments are applied, first liabilities and cost are paid. The fee is considered the last item to be paid on the invoice. Collected Fee is basically Fee Collection in the report time range. If Party is the Timekeeper, it is the collected fee allocated to the Timekeeper’s Billed Fee portion. If Party is any other role (i.e. Originating Attorney, Responsible Attorney, etc), then Collected Fee is the total collected fee of the Invoice.
Allocation %: These values are derived from various user entered settings as detailed above.
Allocated Fee: This is the allocated amount based on the collections and allocation %.