The Reports in Clio perform specific functions to pull your billing, accounting, and activity information from the system to accurately report on your firm’s efficiencies and revenue. As the Reports are generated based on specific logics, you will see the end result can present differently.
When any Time Entries have been recorded in Clio, these entries are tracked as Activity. This means that any Activity based Report will represent the Time as it is displayed under the Time tab of the Matter, or the main Activities page. Activities can also be logged on Calendar Entries, Communications, Tasks, and Documents. More on creating Time Entries can be read in the "Creating and Managing Time Entries" article.
Once this Time has been applied to an invoice, it has become a Billed item. Billing Reports will track the record as it presents on the invoice. This is to accurately display what your firm will be earning on. The Billed item can differ from the Activity item if it has been modified on the invoice without the Original Record being updated. More on creating invoices can be read in the "Creating Bills" article.
An Activity Report is based on Time Entries as entered under the Time tab of a Matter, or the Activities page. In our example we will use the Client Activity Report.
An Accounts Receivable Report is based on Time that has been placed on an invoice and is billed to the Client.
Now we will discuss how write-downs display on Reports. In our example, we have logged 10 hours at the rate of $250.00. This provides a total of $2,500.00.
Time Entries are the Original Record. If any modifications occur to the Original Record, this will update what is displayed on any Activity based Report. Our example entry has displayed on the Client Activity Report as 10 hours with a total of $2,500.00.
Once this time is entered onto an invoice, this is additionally and separately tracked as a Billed record. Billing Reports will track the record as it presents on the invoice. This is to accurately display what your firm will be earning on. In this example, we have written down the time by one hour on the invoice. This was done without updating the Original Record.
If any modifications occur on the invoice, this will be reflected on Billing Reports.
Comparing two Reports side-by-side will give you a clear idea of how the different logics work to bring you the resulting information. Understanding this difference between the logics of these Reports will assist when comparing to see how much was originally input as an activity, and what was eventually billed.
On the Client Activity Report’s total we can see what was originally entered on the Matter as a billable Time Entry for 10 hours.
On the Accounts Receivable Report we see the total of what has been billed for on the invoice, which was adjusted by one hour from the original Activity Entry.
When reviewing a Revenue Report, you will see what your firm expects to receive payment on based on what is applied on the invoice.
In order to update the Original Record (Time Entry) at the same time as editing the line item on an invoice, ensure before saving the change you have checked off the box "Update Original Record". By doing so, the Time Entry in your Matter will be consistent with the Time Entry in your Billing Reports and Activity Reports.
To review further information on specific Reports, see the Support Articles listed in the "Clio Reports" article.
Understanding how these Reports pull information will be of assistance when tracking write-downs, but will also be of assistance when you want to track how much each month you are providing in discounts on invoices. When applying a discount on the invoice, it will not affect the original record, which means an Activity Report will show the original entry, and can be compared with a Billing Report which will be based on the invoiced for amount.
In our example, the original billed entry was 10 hours at a rate of $250.00, resulting in a total of $2,500.00. On the invoice, we have applied a 50% discount to the line item.
Revenue Reports are commonly used to see Unbilled, Billed, and Collected amounts across clients and matters. To ensure accuracy, the results are based on Billed amounts. When generating a Revenue Report, we see the Billed Time represents the Discounted dollar amount from the invoice. Under Billed Hours, it remains at 10 hours.
When running an Accounts Receivable Report, we see the total charged on the invoice.
However, when running an Activity Report, which is generated from the Original Records, this will show the input amount under the Time tabs. 10 hours, at the price of $250.00.
When applying a Credit Note, you will see the amount on the Invoice has been updated to reflect this change.
The Client Activity Report will reflect the entry as it stands under the Time tab of a Matter, or the Activities page.
However, the Accounts Receivable Report will display the amount adjusted on the invoice, in addition to noting the Credit Note amount.
Comparing Activity Reports and Billing Reports side by side will show you and your firm what you expect to receive payment on, next to how much was originally input in the system as the billable amount. More on how to apply Discounts can be read in the "Applying Discounts to Bills" article. More on how to apply Credit Notes can be read in the "Write Offs and Credit Notes" article.