The creation of a budget rate table for each case with position codes, and containing timekeeper and activity references and the initial creation of a pool of activity names, codes and descriptions with a default working position and budgeted amount of time is the first step in creating an activity-based budget for a client. Relating of the various activities into templates which contain the default or standard budgeted times and work positions, and can be changed on a template by template basis, allows for flexibility and control.
At the point of case planning (or job cost estimate), more accurate or specific time budgets can be established, Position can be further defined to a specific Timekeeper-based on the budget rate rable--or an Activity code (type of work)--based on the same budgeting rate table.
In the Activity-based budgeting program, automatic calculation is performed by multiplying the default (or modified) time by the budgeted rate. If the "Time" or "Work by" field is changed from the default, new calculations are performed. The "Rate" can then be further modified from the default, new calculations are performed. The "Rate" can then be further modified from the default and, again, a calculation is performed to achieve the budget dollar amount. Finally the "Cost" can be changed, disregarding any automatic calculation, but displaying the entire plan for future reference.
Upon completion, the Activity-Based Budgeting Plan can be transferred to a matter's budget. If, as in many cases, the matter does not yet exist on the system, the plan can be saved and assigned at a later date when the matter is entered into the Time & Billing module. The Activity-Based Budgeting Plan can also be used to generate calendar-related events in the Calendar Module for scheduling of time-sensitive activities.
The Firm options for applying time entry to budgeting are:
Other modules in the Financial Management Series include:
The Financial Management Series is also integrated to other Modules within the SQL*Partner system, including the following:
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