Lawtrac 4.x - Standard Report - Lawtrac Savings Report- FIN064
Standard Report - Lawtrac Savings Report- FIN064
The 'Lawtrac Savings Report’ allows you to quickly view the invoice adjustments made and the non-compliance issues submitted by your Law Firms/Vendors; thus resulting in monetary savings to your Legal Department.
- Enter the between dates as needed and select the Date filter desired, Based On:
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Date Recorded
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Invoice Date
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Period From
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Period To
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Date Approved
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To Accounting
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Date Paid
- Select Matter Records Which Are: Open, Closed, or choose all by selecting Open/Closed
- Select a specific Law Firm or leave Any / All selected to get all Law Firms
4. Select the Savings Type to report on, see detailed description of each below sample report:
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Law Firm / Vendor Adjustments -- Total of all savings based on “Non-compliance with Billing Guidelines” and “Legal Department Adjustments”
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Non-compliance with Billing Guidelines -- Rules are violated, examples include:
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Exceeding the timekeeper’s approved rate
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Adjustment for late reporting (you can set penalties for reporting of worked performed months prior to the invoice’s submission date)
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Designate Specific Words/Phrases that are not allowed due to billing guidelines…if they are used Lawtrac automatically reduces the line amount)
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Legal Department Adjustments -- When an approver is reviewing an invoice and determines the charge is incorrect, examples include: Excessive time, Unauthorized Work, Inappropriate Staffing, etc.
Sample Report:
Based on “Invoice Date” for all “Open/Closed” matters for all Law Firms and it details the “Law Firm / Vendor Adjustments”.
