Income Allocation Report

The Income Allocation Report is a versatile tool that will help your firm track invoiced and collected amounts across various different measures. Use the Income Allocation Report to assist with compensation and billable time calculations.

Table of Contents

• Getting Started
• Run an Income Allocation Summary Report
  • Filters
  • Important Notes
• Run an Income Allocation Detail Report
  • Filters
  • Important Notes

Getting Started

triConvey offers two types of Income Allocation Reports:

• Income Allocation - Summary

• Generate income allocation filtered by Matter Type, Area of Law, Person Responsible, Timekeeper, Client or Referrer.
• You can also run the above filters additionally as a Subtotal.

• Income Allocation - Detail

• Generate the same report in the Income Allocation - Summary report but further break this down by Invoice and Payment details.
• This will help your firm check if payments were applied correctly.
• Completing forms for your firm's Professional Indemnity (PI) insurance?  Running the Income Allocation - Detail Report and choosing Practice Area from the Run By menu will produce the relevant figures.

Run an Income Allocation Summary Report

1.    Select the Reports tab from the left menu in the triConvey Companion Site web app.

2.    Select Income Allocation - Summary.

3.    Review the filters at the top of the screen.

4.    Select View Report on the rightmost side of the screen.

Filters

• Payment Date From and Payment Date To - allow you to run the report for a specific time period, and they must be entered before the report can be run.
  
  
• Run By and Subtotal - give you tremendous flexibility in how you see your income allocated. Both filters have options for Matter Type, Practice Area, Person Responsible, Introducer, Timekeeper, Client and None. 

• For example, if you wanted to see your income by person responsible, and then see subtotals for each timekeeper who worked on that person’s matters, you would set the Run By filter to Person Responsible and the Subtotal filter to Timekeeper. Or, if you wanted to just see the income by timekeeper, you would set the Run By filter to timekeeper and the Subtotal filter to None.

• Include GST - allows you to choose if you want GST included in the report.
  
  
• Show Percentage - gives you the option to include a percentage column next to each value column (Fees % will be added next to Fees Collected, Total % will be added next to Total Collected, etc.). These percentage columns show how much of the total is comprised of the value on a particular row.

• For example, Timekeeper A’s $11,000 collected this month comprise 30% of total collections for the month.

Important Notes

• Partial payments for an invoice are applied pro-rata across fees and disbursements.

• Partial payments are applied pro-rata across fees and disbursements.
• Waived amounts are also considered partial payments.

• Discounts are applied to fees only.
  
  
• Interest, surcharges and credits are excluded.
  
  
• The subtotal filter (other than <None>) reflects the percentage of the group, not the total for the report.

Run an Income Allocation Detail Report

1.    Select the Reports tab from the left menu in the triConvey Companion Site web app.

2.    Select Income Allocation - Details.

3.    Review the filters.

Filters

• Payment Date From and Payment Date To - allow you to run the report for a specific time period and they must be entered before the report can be run. 
  
  
• Include GST - allows you to choose if you want GST included in the report. 
  
  
• Run By and Subtotal - give you tremendous flexibility in how you see your income allocated. Both filters have options for Matter Type, Practice Area, Person Responsible, Introducer, Timekeeper, Client and None.

• For example, if you wanted to see your income grouped by person responsible, and then see subtotals for each timekeeper who worked on that person’s matters, you would set the Run By filter to Person Responsible and the Subtotal filter to Timekeeper. 
  
  
• If you wanted to just see the income grouped by timekeeper, you would set the Run By filter to timekeeper and the Subtotal filter to None.

• Include Details - allows you to choose the report’s level of detail. Based on your selection, it will either show income at the matter level, invoice level or payment level. 
  
  
• Timekeeper, Person Responsible, and Introducer - give you the option to limit the results to specific individuals.

Important Notes

• Partial payments for an invoice are applied pro-rata across fees and disbursements.

• Partial payments are applied pro-rata across timekeepers.
• Waived amounts are also considered partial payments.
  
  

• Discounts are applied to fees only.
  
  
• Interest, surcharges, and credits are excluded.