Accounts play a central role in the TeamConnect finance area. Each account can track transactions according to the desired posting criteria, which can be a combination of projects, vendors, involved contacts, and types of transactions.
If you have e-billing through Collaborati Spend Management (CSM), you can also use budget requests. Through Collaborati, vendors approve budgets for a matter.
Note: The finance area in TeamConnect can track financial transactions electronically but is not tied to real monetary accounts.
The following diagram illustrates how all the financial parts of TeamConnect work together.
- Before you can post expenses or invoices, you need to create an account to track transactions.
- In addition to posting to accounts, expenses and invoices save to the Invoices/Expenses page of a matter when you associate them with a matter.
- If you use CSM, you can submit a budget request for each combination of a vendor and a matter. After you submit a budget request and the vendor approves it, the accounts listed on the budget update the Total Allocated amount for the account.
Note: The pages where financial information save depend on your system configuration.
Tasks are a type of transaction that can also post to designated accounts. For more information, see Tasks.