Budgeting And Forecasting

Overview

Intellistat Budgeting & Forecasting transforms a law firm’s annual budgeting process from a disruptive, time-consuming chore, into a routine, highly productive process.

Automate the budgeting and forecasting process while providing a secure way for all staff to enter and access budget information. Integration into Elite (Enterprise and 3E)and Aderant Expert ensures timely management of budget-to-actual results, while its ability to forecast both Cash and Accrual based revenue demanded by law firms, simplifies all aspects of budgeting and variance tracking within your firm.

Features

  • Employees Expense & Revenue Modeling

With secure access to employee profiles (general assumptions and demographics), calculating expenses are quick and accurate. Users have the ability to update expense & revenue formulas for both Cash and Accrual accounting methods, enabling the ability to immediately calculate expenses and revenue for all employees within the firm.

  • Account Budgeting

Get immediate access into account level information to help plan for operating costs such as rent, marketing, IT, professional development, and business development. Automating the process, the program quickly aggregates data and offers access into the budgets by intuitively drilling into the underlying records.

  • CAP EX

Model and automate the budgeting for Fixed Assets through the enterprise. Each asset is assigned to a firm defined ‘asset type’ that not only determines the associated capital and depreciation accounts but also assigns the depreciation method and duration. In addition to planning for new capital purchased, existing assets can also be loaded to completely round out the firm’s depreciation budget.

  • GL Inquiry

This customizable feature provides secure access to transaction-level detail originating in the firms underlying GL and AP systems. Ata transaction level, views can be grouped any way you like, limited to one or more segments, and/or sorted by any column. You can then drill into transactions to see their component parts, be it checks, vouchers, or general ledger entries.

  • Reports

Offering a variety of reports to assist in breaking down and analyzing your budgeting data, reports are dynamic, support drill-down capabilities and can be exported to PDF and Excel. Reports also supply quick links that can immediately take a user from a report into the corresponding data entry screen, enabling instant adjustments or views for more details.

Benefits

  • Increase ownership and decrease approval time

Creating a fully automated budgeting process, the software allows for secure budget entry and management by line item. Staff can securely enter budgets for only their areas of responsibility which frees up management and improves accountability.

  • Analyze budget variances and collect explanations

By extracting, storing, and reporting actual expenses from general ledger systems, users can initialize budgets from actuals, report budgets and actuals in the same report or format, and compare any required combination of actuals, budgets, and forecasts.

  • Distribute browser-based worksheets with the integrity of a centralized database

The software’s unique design allows for the most detailed entry of budgeted information while still affording your firm the ability to aggregate and report on each budget at any dimension.

  • Turn budgeting into a business tool, not an administrative burden

Having the ability to easily recycle budget models with real-world metrics year after year, version after version, time taken to create an initial budget is greatly reduced.

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