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Cash Realization: Firm Management Dashboard

The information in this article applies to Acumen, a Practice Management add-on that provides enhanced reporting dashboards for your firm. To learn more, please contact your customer success manager or your account representative.

This product is currently in early access.

 

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 Cash Realization report measures how much of the invoiced fees is actually collected in cash, after accounting for credit notes, write-offs, and adjustments.

The information displayed is based on the date of the invoice. The following calculation is used to generate this information:

Cash Realization (%)=Fees Collected (net of write-offs) / Fees Invoiced × 100

Example:

  • Fees invoiced: $10,000
  • Credit notes / write-offs: $500
  • Net cash collected: $9,000
Cash Realization = 9,000 / 10,000 × 100 = 90%

This shows that for every $1 billed, the firm collected $0.90 in cash after all post-invoice adjustments.

You can click the chart to view the Cash Realization Report for a detailed breakdown of this information. 

 

Cash Realization Report Details

  • Fee Earner / Matter ID: Shows the name of the fee earner as well as a list of matter IDs associated with the fee earner.
  • Billed / Invoiced Fees: Shows the billed amount on invoice.
  • Credit Notes: Shows any credit notes listed on the invoice.
  • Write Offs: Shows any write-offs included on the invoice.
  • Collected Fees: Shows the amount collected. You can review this information by clicking the edit icon on the New Client Receipt window and then reviewing the amounts in the Amount and Split % columns.
  • Cash Realization %: Shows the result of the following calculation: Amount collected / amount on invoice * 100.

 

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