With built-in billing and accounting, you are able to track income from the matter creation all the way to the invoice payment. Those who run a general practice or dabble in a few areas might find it useful to track what is being brought in by certain specialties. This will allow you to make some wise advised business decisions. Where to focus Marketing? What area to drop? What improvements can be made?

Creating Income Sub-Accounts

To begin tracking this information, you will first need to create income sub-accounts. 

  • Go to Accounting > Chart of Accounts > click Add

Here you will add your sub-account:

  • Number - should be a subset of 4100. Many do 4101, 4102 etc. 
  • Account Name - This would be the area of Practice (Ex: Family Law)
  • Account Type - Income
  • Check "Sub-Account of" and select 4100: Fee Income
  • Add a description if you would like, then click Save

You can repeat this step for as many areas of practice you have. Note the number must be unique for each (but best to keep sequential of 4100)

Assigning Account To The Matter

Once the subaccounts are created, you can then assign them to various matters.

  • Go to Matters > click edit (to edit a current matter) or add for a new matter

  • On this screen, you will want to complete the matter information (if needed), then click on Advanced Settings > Accounting.

    You will see the Default Legal Fee Income Chart Of Account field. Here you can select which sub-account you would like ALL fee income from this matter to be allocated to.

With selecting one of these accounts, the fee portion of the invoice payment will be allocated there automatically upon applying the invoice payment.

 Reporting Findings

  • To report on these areas, go to Reports > Accounting > General Ledger
  • You can then select the account for that area of practice, a date range and click view/download.