Task guide
Set and revise a matter budget
A budget per matter, in its own currency, with optional phases, every revision kept, and the partner told as the spend approaches it.
Set the budget
- Open the matter, then Budget, and choose Edit.
- Enter the Total budget in the matter's currency.
- Where the firm codes its work to phases, such as pleadings, discovery and trial, under Settings, Codes, Tasks, open Split by phase and enter a figure for each phase you budget. Leave a phase blank where you keep no share against it. The phases may not add up to more than the total.
- Add a Note for what the figure assumes, and choose Set budget.
Revise it
Choose Edit again, change the figures, give the Reason for the change and choose Save revision. Revisions keeps every figure the budget replaced, with who changed it, when and why, so the history of what the client was told is never lost.
Spend against the budget
Spend against the budget shows what has been Spent so far, what is Left and how much is Used. Until anything on the matter records spend it reads Nothing to compare yet, never a nought.
The firm sets the percentages at which the responsible partner is told in Budget alert thresholds (%) under Settings, General, Practice: 50, 75, 90 and 100 per cent unless the firm changes them. The spend is the chargeable time and disbursements recorded on the matter, and the partner is told within a quarter of an hour of the entry that crosses a percentage. Each alert is sent once; where several are passed at once, only the highest is sent. A budget raised above what has been spent alerts again as the new figure is used.
The budget report
Matters, then Budgets, lists every matter with a budget beside its spend and variance, so a partner sees which files are running over. The matter register explains how to read and filter it.
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Read next
- Open a matterRecord the enquiry, add the client and parties, clear the conflict check and complete the opening checklist, then open the file.
- Record timeRun a timer, use quick entry or fill the week grid, with each entry rounded, valued at once and checked against the rules the firm sets.
- Billing arrangementsSet how a matter is charged, hourly, fixed fee, fixed fee by milestone, retainer or scale fee, with one arrangement in force on any day.
- The matter register, views and dashboardFilter the matters you need, save the view for next time or share it with the firm, find files nobody has touched, read budgets across matters, and read a matter at a glance.