It is possible to add a budget to a matter. This option can be used to notify timekeepers of the financial arrangements with the client or to measure the productivity/effectivity of employees. A Matter supervisor can also get alerted on the status of a budget at certain thresholds.
How to add a budget
- Go to 'Clients' - 'Matters'
- Select the applicable matter and choose 'Add Budget'
- The window below opens
The budget can be based on:
- Hours (all)
- Hours (billable only)
- Expected amount
- Virtual amount
When the 'Expected amount' is selected, the fee will be calculated based on the pricing scheme that has been selected on the matter. Depending on the type of pricing scheme, time entries can be calculated against different prices/rates.
The 'Virtual amount' calculates the amount based on the 'current rate' that has been set under the user settings.
When the box 'notify user' is ticked, the user who writes time on this matter is notified of the budget each time this person adds time to this matter. When the budget reaches 80% the colour changes to yellow, and when the budget reaches 100% it changes to red. For the Matter supervisor, when this option is ticked in the budget settings, there are notification that will appear on the Time home screen automatically when the budget reaches 80% and 100%. This notification will stay there until it is closed (by clicking the cross icon on the right hand top of the notification box).
80% and more budget warning:
100% and more budget warning:
Please note that Legalsense does not block time entry or other activities on the matter when the maximum budget has been reached. It is up to the persons who receive the notification to take action (such as notify client, re-negotiate with client, adjust budget, etc).