When planning budgets, the first step is to select which type to use. Listed below are the available types of budgets and their descriptions. You can click on the links to learn how to create that type of budget.
Currently, the Custom budget type is not functional.
- General Ledger - This type of budget is for overall Firm Financial performance.
- Timekeeper - This type of budget is for productivity performance.
- Client/Matter - This type of budget is for managing firm allocation of client money toward a case.
Each of the types above have their advantages. Multiple budgets can exist for each type. If you have several offices you can set up budgets for each as well as for groups of people within the firm. Used in conjunction with Business Intelligence and My Reports, Budgeting can assist you in maximizing firm profitability.