To access the Firm Management dashboard:

1. In Practice Management, go to Insights > Business Intelligence. The Insights page is displayed.
2. Select Firm Management from the list of options on the left side of the page. The Firm Management Dashboard is displayed. 

The Time-Based Realization chart helps you measure how much of the value of recorded time is actually billed to the client after any discounts or fee adjustments. Information in this chart is filtered by invoice date and not time entry date.

This report is useful for 1) management to assess pricing discipline and profitability, and 2) fee earners to understand how much of their work converts to billable income.

Following are some things to understand about this data:

• Time realization is often benchmarked against 100% (no write-downs).
• Lower realization numbers indicate revenue loss due to discounts, adjustments, or inefficiencies.

The following formula is used to calculate the data for the chart:

Time Realization (%) = Fees Billed / Value of Recorded Time × 100

Example:

• Hours recorded: 10
• Hourly rate: $100
• Value of recorded time (WIP): $1,000
• Actual fees billed: $800

Time Realization= $800 / $1000 x 100 = 80%

This means that for every $1 of time entered, the firm was able to bill $0.80.

Click the chart to view the Time Realization Report for a detailed breakdown of this information. 

Time Realization Report Details

Rates and rate labels covered in this report are managed in the following locations:

• Admin > Users & Permissions > System Roles > [select a role] > General settings > Default rate sheet.
• Admin > Users & Permissions > [edit a specific user] > User preferences > Default rate label
• Admin > Billing > Rate labels

If there are no default rates set for the system role or for the user, this data will be empty.

The report includes the following data:

• Fee Earner: Shows the name of fee earner.
• Default Rate: Shows the default rate set in the system for the fee earner. (See the information above on where these defaults are managed.)
• Hours: Shows the recorded time in hours. This number is recorded when you create a time entry.
• WIP: Shows the value of the billable time. This number is calculated when you create a time entry. It's listed in the Bill total field.
• Standard Rate: Shows the value of billable time / hours of billable time.
• Fee Adjustments: Shows the fee adjustments listed on the invoice. You can review this number by creating or viewing a draft bill.
• Discounts: Shows any discounts listed on the invoice. You can review this number by creating or viewing a draft bill. It appears on the Charges panel on the left side of the window.
• Billed Fees: Shows all of the fees that are billed (excluding disbursements and taxes) per fee earner. You can review this information by going to Reports > Billing Reports > Fee Allocation per Invoice Report. (You must configure this report to show Fee Earner Summary (under Advanced).)
• Effective Rate: Shows Fees Billed / Hours

• Time Realization: Shows the value of the following calculation:

  Amount Billed / Value of billable time * 100

Updated August 10, 2026 17:54