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View and Export your Realization Report

Gain insights into your firm's performance with the Realization Report.

Justin Rolli avatar
Written by Justin Rolli
Updated over 7 months ago

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 final 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.

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