We just installed BM v8. We would like to track originations and collections. For internal purposes we would like to determine how much business a lawyer "originates", that is work the lawyer brings to the firm, but does not necessarily work on. We would like to be able to determine the total amount of fees a lawyer originates as opposed to that which is collected (collections being the fees earned for the actual work performed).
I thought utilizing the fee allocations set up would do the trick, the problem I have encountered is that I can not enter a percentage greater than 100%. I can't seem to figure out any way around this, to get a report that shows 100% of that lawyers originations along with 100% of that lawyers collections. For our analysis those figures do not have to add up to a total of 100%.
For example at the end of the year, if a lawyer's personal collections total $300,000, and his or her client originations worked by other attorneys total $400,000, then that lawyer would have a total "book of business" of $700,000 for the year. Is there a way in billing matters to obtain this type of information/data?
Rob, you are pretty close. The Fee allocations are set on the billing preferences. These are reported on the Fee Allocation report. This report takes the totals on the matter and multiplies it by the percentage you have allocated. It does not have to equal 100%. This will give you the originations, if you set orgination to 100%.
The next step is what you are missing. The allocation above cannot allocate to who did the work. Any person can work on a file and their initials do not have to be in the allocations. You have defined collections as I do the work, the client pays. This can be reported on using the Receipt Allocation report. For your purposes you want to filter-only time and options-sort by staff.
Originations report= Fee AllocationsCollections= Receipt Allocations
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