Index
Understand your firm's performance with the Realization Report. It measures how effectively billed time aligns with recorded time, offering insights crucial for profitability and decision-making.
What is Realization
Realization measures your business performance by comparing billed time to recorded time:
Realization % = Billed / Recorded x 100
A realization of 100% means you're compensated fully for the work done.
A realization > 100% means you're overcompensated.
A realization < 100% means you're undercompensated.
The Realization Report aids in making informed business decisions.
The Realization Report
Access the Realization Report via Billing > Realization in the main menu. It details Billed Time, Recorded Value, Write On/Off amounts, Billed Value, and Realization % for each approved client invoice. Customize the report by time-period and download raw time data for deeper analysis, ideal for creating pivot tables.
If you have voided an invoice or it is a draft invoice, it will not show in the report.
Fixed Fee and Recurring Billed work
For Fixed Fee and Recurring Billed work, the system calculates write-ons/offs and realization automatically when time is tracked:
Once work is fully billed and marked Completed, time entries become "Billed" and are included in the Realization Report.
If work is progress invoiced or not yet Completed, time entries may show as "Interim Billed" but won't be included in the Realization Report until completed.
Adjustments are dynamic; any changes update write on/offs and realization automatically.
Example:
Fixed fee work billed in advance: $500.00
Colleague 1 records 100.00 of time
Colleague 2 records 100.00 of time
Colleague 3 records 200.00 of time
Total recorded value: $400.00
Realization calculation: $500.00 / $400.00 = 125%
Billed values:
Colleague 1: $100.00 * 125% = $125.00
Colleague 2: $100.00 * 125% = $125.00
Colleague 3: $200.00 * 125% = $250.00
Export the Report
You can export the Realization report from the (...) menu at the top-left of the page for the current view, allowing further flexibility in how you view the data.
