The Write-Offs by Client report presents a concise overview of invoice write-offs allocated per client, aiding law firms in evaluating financial concessions and identifying trends in client payment behavior.
Insights Expected from the Write-Offs by Client Report
This report provides essential insights to optimize client relationships and financial planning:
Write-Off Patterns by Client: This tracks clients with higher volumes of write-offs, enabling firms to identify potential risk areas or recurring billing challenges.
Client Financial Health Assessment: Helps assess clients’ payment reliability and informs strategies for managing accounts with frequent write-offs.
Engagement Optimization: This section highlights which clients may require adjusted engagement terms, allowing for more informed decision-making on future billing and retention strategies.
Revenue Impact Analysis: By understanding the frequency and amount of client write-offs, firms can better analyze revenue impacts and adjust forecasts accordingly.
Strategic Financial Planning: Assists in prioritizing efforts to improve collection rates and reduce financial concessions, ultimately enhancing cash flow and profitability.
To generate the Write-Offs by Client report:
Navigate to the Dashboard
Click on Reports
Scroll to the Invoices section and choose 'Write-Offs by Client.'
You can refine the details by applying various filters. The report can be exported for further analysis, allowing firms to refine engagement approaches, improve client communications, and effectively manage write-offs.
Explore this comprehensive guide for a deeper understanding of all features available in the reports interface.