When you have added a periodic [link] or phased [link] budget, you can now start to view and interpret the spend vs budget on your matter. The most descriptive source of this will likely be your matter budget charts.
Budgets Tab
Navigate the budgets tab of your given matter. If a budget exists for this matter, you will automatically see the budget charts on this tab. If you have a periodic budget on your matter, the date range for the chart will be based on the default view you have selected for this budget [link].
You can change the view of your charts by clicking on the dropdown at the top of this tab.
Summary chart:
Budget amount (top right corner)
Bar chart visualizing the spend vs budget
If your spend is within budget, the color blocks represent spend types as a percentage of the budget amount.
If your spending has overrun the budget, the color blocks represent spend types as a percentage of all spend. The red outline represents the overrun as the % of the spend shown that is exceeding the budget.
Approved
This is the sum of invoices in statuses approved, batch exported and paid. If it’s a periodic budget and you’re not filtered to the budget total, the date filtering is based on the invoice date.
Pending
This is the sum of invoices in status pending, on-hold, and awaiting details. If it’s a periodic budget and you’re not filtered to the budget total, the date filtering is based on the invoice date.
Accruals
This is the sum of the prior periods unbilled and the current period unbilled as entered by your vendor in the current calendar month. This amount resets to 0 when a new month begins, as it is expected your vendor will soon submit an invoice for those accrued amounts.
Total
Below the approved, pending, and accruals you will the sum total of those 3 values.
Remaining
If your budget has not overrun, you will see an amount for the budget amount minus the spend.
Overrun
If your budget has overrun, you will see the amount for which the spend is exceeding the budget
Breakdown charts:
On the budgets tab of your matter, click on the assignment breakdown to view more specified charts.
These charts will be filtered based on the dropdown at the top of your screen, which will either be by phase or period.
Vendors
A chart will appear for each vendor that is currently or that has previously been on this matter. The charts only include that vendor’s portion of the budget and spend on this matter.
Unassigned
This chart compares the unassigned portion of the budget with the overrun of the vendor budgets.
Budget changes:
On the budgets tab of your matter, click on budget changes to view the history of budgets on your matter. This can only be viewed if you currently have a budget set for this matter. You can view when, by who, and how much the budget was set for. Click on any row to see the comment that was entered when saving the budget.
If the budget changed based on a vendor budget request, the reviewer of the budget request will be displayed rather than the vendor that requested the change. To see a detailed view of vendor budget requests, navigate to Menu > Matter Management > Matter Budgets (assuming you have this feature enabled).
Invoice Review Page
On the invoice review screen for any invoice, you will see the spend vs budget only for the vendor on the current invoice. It is based on the matter total, rather than individual phases or periods. In addition, your budget overrun flags will be based on the individual vendors spend vs budget for the matter total
Matter Summary Tab
The matter summary tab contains a mini budget chart. This allows you to get a quick glance at the spend vs budget for this matter. If you have periodic budget on your matter, the date range for the chart will be based on the default view you have selected for this budget [link].
Click Go to Budget to be taken to the budgets tab for more information.