The WIP, Billed, Collected report provides an overall summary of performance, presented according to the category you accessed it from. For example, when accessing this report from the By User header, it will sort all WIP, billed, and collected data according to users listed as the responsible attorney on your firm's matters. When accessing this report from By Client and Matter, it will list all of your firm's WIP, billed, and collected data by client and matter. Try the report from By User, By Client and Matter, and By Practice Area to determine their best uses for your firm.
Because the WIP, Billed, Collected report partitions data from the moment a time entry is created to the moment it becomes revenue for your firm, it's a great report for viewing performance over time. You can use the Time Period filter on the left side for different insights. You can set it to last month for viewing monthly performance or enter a custom time period for analyzing quarterly--or any other performance period you desire!
What are WIP, Billed, and Collected?
The following table explains where each column gets its data:
Work in progress (WIP)
Totals come from services (hours and fixed fees) and expenses that haven't yet been made into an invoice. These are items you'll find still in the Ready to Bill tab of the Billing page.
Totals come from services and expenses that are currently in any form of invoice, even if you haven't yet sent that invoice to a client or if you've already collected payment. Billed data comes from the Drafts, Review, Approved, and QuickBooks tabs of the Billing page, depending on which invoice workflow settings you've selected.
Totals come from services and expenses of recorded payments, made in the QuickBooks or Trust Account tabs of billing. You can find these items in the QuickBooks tab of billing if you use the State filter to sort by "Paid."
Looking for something else? Consider our other reports.