Step 1Click Budgets in the left menu, then click the "Create a new budget" button in the top right;
Step 2: In the budget creation window select the type of data you want to use for the budget: Fees, Expenses, or Both
Step 3: Select "Cost type" (fees or expenses) as a budget category or subcategory:
Below are a few examples of how to use expenses and fees data in the budgets.
- Select "Both" in the budget creation window & select "Cost type" as a category:
2. Select "Expenses" as a data source. Select "Matter" as a category and "Cost type" as a subcategory. The budget will only display expenses in the subcategory for each matter attached to the budget;
3. Create a high-level overview of all expenses across all portfolio matters by selecting "Expenses" as a data source. use "Cost type" as a category and Matter as a subcategory;
Try out different budget layouts and don't forget to set up recurring reports and budget alerts to stay on track. Here is a quick guide on how to set up and track budget warnings.