Accounts are records of money, or budgets, that your organization allocates for according to specific vendors, internal expenses, and settlements associated with a particular matter.
TeamConnect automatically creates all necessary accounts when you create a new budget on a matter record. The following accounts track the appropriate transactions as you post expenses or invoices or adjust budgets on the Budgets page.
Account |
Tracks transactions from |
Phase & Task Code Fees |
Invoices tasks of the Fees category |
Phase & Task Code Expenses |
Invoices expenses of the Matter Cost : Expenses category |
Other Vendor Fees |
Invoices tasks of the Matter Cost : Other Vendor Fees category |
Other Vendor Expenses |
Invoices expenses of the Matter Cost : Other Vendor Expenses category |
Internal Expenses |
Expense records of the Matter Cost : Internal Expenses category |
Internal Fees |
Fees records of the Matter Cost : Internal Fees category |
If your organization organizes budgets by vendor, TeamConnect creates two additional accounts for each outside counsel firm associated with the matter. See Understanding Budget Features for more information.
Phase & Task Code Fees and Expenses post to the same accounts based on the lowest parameter, as defined by the budget parameter hierarchy.
