The Attorney Revenue report provides a detailed breakdown of the revenue generated by each attorney within a law firm. This report is essential for evaluating the financial contribution of individual attorneys, aligning compensation with performance, and informing strategic decision-making. Additionally, it captures important details on unbilled, billed, unbillable, and collected amounts for time, expenses, and flat fees, alongside credits and taxes collected.
Insights Expected from the Attorney Revenue Report
This report delivers key insights that help law firms optimize their financial performance and resource management:
Revenue per Attorney: It shows the total revenue generated by each attorney over a given period, making it easier to assess individual financial contributions.
Performance Evaluation: The report helps track attorney productivity by linking revenue directly to billable work, aiding in performance reviews and incentive structures, and evaluating both billed and unbilled contributions.
Unbillable Time, Expenses, and Flat Fees: This section details non-billable hours and expenses, allowing firms to assess where resources are being consumed without direct financial return. This insight helps optimize non-billable activities such as internal work or client management.
Unbilled Time, Expenses, and Flat Fees: Shows logged work that has not yet been invoiced, helping firms ensure no revenue slips through the cracks and allowing for better revenue forecasting.
Billed and Collected Time, Expenses, and Flat Fees: The report tracks amounts billed and collected, ensuring that revenue is aligned with work performed and providing clarity on cash flow.
Credits and Taxes Collected: The report also includes credits applied and taxes collected, ensuring accurate financial tracking and transparency in client billing.
Identify High Performers: By comparing revenue across attorneys, firms can identify top performers, ensuring that their efforts are rewarded and aligned with high-value matters. This helps in optimizing compensation and incentives.
Resource Allocation: This report enables firms to make data-driven decisions on resource allocation, ensuring that attorneys are assigned to matters that align with their strengths and revenue-generating potential.
Compensation and Incentives: With insights into attorney-generated revenue and the breakdown of billed and unbilled hours, firms can adjust compensation structures, bonuses, or commissions to reward high productivity, driving both individual and firm success.
To generate the Attorney Revenue report:
Navigate to the Dashboard
Click on Reports
Scroll down and choose 'Attorney Revenue.'
The report can be exported for further analysis, enabling detailed review and comparison of individual attorney performance and helping guide compensation, promotions, and staffing decisions.