Clio's Revenue Report is designed to help firms visualize and quantify key performance metrics on a per-user, per-client and per-matter basis. The report details hours, expenses, discounts, and taxes in terms of unbilled, billed and collected amounts.
To generate the report, first click on the Reports tab at the upper right of your page in the black ribbon. Then, scroll to the bottom of the reports list, and click on Revenue Report.
Within the report options page you have several settings you can choose from to get the information you require on your report:
- Select user: Choose if you want to show billed, unbilled, and collected entries for all users or a specific user, or "timekeeper." Restricting the report to a single user will only show entries input under the selected user.
- Select client/matter: Choose if you want to generate the report for all clients, a specific client, or a specific matter. Restricting the report to a single client will ensure that only entries placed under their matter or matters will be reported on. Only Pending or Open matters will appear in the Specific matter filter option.
- Select practice area: You have the ability to limit the results on your generated report to a specific practice area, or by default you can select to display all practice areas. Do note that if you select to report on a single practice area, that all matters you wish to display will have to have the practice area assigned to it. More on practice areas can be read in our Managing Practice Areas article.
- Select date range: Setting a date range will restrict selected data to those records bounded by the range. Unbilled entries that appear on your report adhere to the activity date. Billed entries adhere to the issue date of your approved invoice. Collected amounts adhere to the date the payment was made. Choose the "Custom" option if you want to determine a specific range outside of the default selection. Credit notes are determined by the date they were entered.
- Output format: You can generate this report in Web, PDF, or CSV.
The generated Revenue Report will display Unbilled, Billed, and Collected totals for each client and matter for your firm. At the bottom of this report, you will see a summarized firm total.
You may also wish to see this report in a CSV file format.
In each column we see information specific to your firm's outstanding, and collected earnings.
Unbilled Time and Unbilled Expense refer to entries that are not yet on an approved bill. This includes entries under a Matter that are not yet assigned to an invoice, and entries on a Draft/Pending Approval invoice. Unbilled Hours will display the total number of hours used to calculate the dollar figure.
When running the Revenue Report for a date range, these Unbilled columns will pull in information based on the date the activity was entered into Clio. If the date the activity was entered into Clio falls within the date range AND the activity was not billed by the end of the date range, the activity will be pulled into the Unbilled column(s) of the report.
Billed Time, Billed Expense, and Billed Tax refer to entries that have been applied to an invoice that has been approved. The Credit Notes column includes an amount you wrote-off on your invoices. This does not include Discounts, as a Discount will adjust the amount due under Billed Time for each individual line item that was Discounted on the invoice. If the entire invoice was Discounted rather than individual lines, you will see the Discount applied evenly across all items and lower your Billed Time, Billed Expense, and Billed Taxes.
When running the Revenue Report for a date range, these Billed columns will pull in information based on the issue date of the Bill. For example,
- I create a draft Bill in February
- I approve the Bill (and update the issue date) in March
- I pay the Bill in April
- I run the Revenue Report in May, and set the date range to "Last Month" (April). I do not see the Bill's total in the Billed column(s) of the report (because its issue date wasn't within the date range).
- I run the Revenue Report for March and see the Bill's total in the Billed column(s) of the report because the (updated) issue date falls within the date range
If a Bill is issued and paid within the date range, the total will be displayed in both the Billed column(s) and the Collected column(s).
Discounted Time, and Discounted Expense refer to billed entries that have an invoice-level or line item discount.
Collected Time, Collected Expense, and Collected Tax refer to charges on approved invoices that have been paid. If a partial payment has been applied, under Collected we will see the payment evenly applied across Time, Expense, and Tax columns.
When running the Revenue Report for a date range, these Collected columns will pull in information based on the payment date. For example:
- I issue a Bill in March and receive payment toward it in April
- I run the Revenue Report in May for the month of April
- I see the payment displayed in the Collected column(s) of the report (but I do not see the bill total in the Billed column(s) of the report
- If I run the Revenue Report for March, I'll see the bill total in the Billed column(s) of the report (but I won't see the payment in the Collected column(s) of the report
This refers to all the money that has been earned, but not attached to a Matter or a Client
If you are comparing the Bank Account Activity Report to the Revenue Report, here is an article that goes more in-depth on the logic-
At the bottom of the Revenue Report you will see a total that summarizes all of the above totals for each column and for every displayed Matter and Client.
What if I only want to manipulate the data in this Report?
When generating a Report in a .CSV format you can have additional options for manipulation as sorting, or removing certain columns or rows. For more information on manipulating .CSV, please see our How to Filter and Sort Exports in Excel Support Article.
For Collected Amounts, how is the amount determined if there are multiple users billing on a Matter and there is a partial payment?
Collected amounts are allocated proportionately across users on a bill based on their billed amounts. It doesn't have anything to do with responsible attorney for Unbilled, Billed, or Collected amounts.
For Collected Amounts, how are the amounts "Collected" determined?
Collected amounts are equally allocated based on the invoiced Time and Expense amounts. For example, if two Users have input 50% of the billed time each on an invoice, and a payment of $100 is applied, each user will have $50 in the Collected columns. This will become apparent if the Revenue Report is generated on a per User basis.
How is revenue from a Flat Rate Matter reported?
Revenue from Flat Rate Matters is credited to the attorney specified in the Matter Billing section of the Edit Matter form. If outside of the Flat Fee there are additional Time Entries made on this Matter, these entries will be attributed to the User who has input them.
How is revenue from a Contingency Fee Matter reported?
For a Contingency Fee Matter, all revenue is attributed to the User selected as the Fee Recipient. However, if additional Time Entries are created with an amount to be charged applied, the resulting revenue from these entries will be attributed to the User.
How is Interest assigned on this Report?
Interest items are not attributed to a single user but are attributed to the firm. Therefore, Interest will display on your Revenue Report if generated for All Users.
How will the payments received via Clio Scheduler be displayed in Reports (in Grow/Manage)?
Revenue generated from paid consultations booked via Clio Scheduler will be included on the firm’s Revenue Report in Clio Manage, but will not be included in any other reports in Manage or in Clio Grow.
Money collected via Clio Scheduler + Payments will be displayed in the Revenue Report in one of two ways, based on the option selected in the Paid Appointment settings in Grow for each appointment:
- Record as fees earned immediately once the transaction completes
- Keep as a credit balance for the contact
Record as fees earned immediately
If the option selected is to record the Scheduler Payment received as fees earned immediately, a "funds out" transaction will be logged on the contact's Transactions tab as soon as the payment status is "completed".
Under a separate heading called "Clio Scheduler Payments", a single line item will be added to the existing Revenue Report (in Clio Manage) for the total revenue generated from all of the "funds out" transactions generated via Clio Scheduler. The total revenue will be shown under the “Collected Uncategorized” column of the revenue report.
Note: As there is no single user associated with this revenue, it will only display if the report is generated for "All Users".
If the person who booked a paid appointment under this option later becomes a client, the revenue from their paid appointment will continue to be reflected as part of the total under the Clio Scheduler line item and will not be included in the line item on the Revenue Report for that specific Contact/Matter.
Keep as a credit balance
If the option selected is to record the Scheduler Payment received as a credit balance, no "funds out" transaction will be logged. This will result in a positive running balance on the contact's Transactions tab which will need to be manually reconciled in the future.
The single line item added to the Revenue Report (in Clio Manage) for total revenue generated from Clio Scheduler will not include payments received under this option (because these payments are not yet considered fees earned or firm revenue).
If the person who booked a paid appointment under this option later becomes a client, the revenue from their paid appointment will only be reflected under the line item on the Revenue Report for that specific Contact/Matter, and will not be included under the total under the line item for Clio Scheduler payments.