Parameters play a key role in SingleCase reporting, helping you to better understand the billing efficiency and performance of your team. This article focuses on important indicators and explain what influences them. You will also learn how to work with columns in reports and use period filters effectively for clearer data analysis.
Recovery Rate
Recovery Rate indicates the ratio of actual to potential billing. Potential billing is the amount that the client would pay if you charged them for all recorded hours based on the case rate. This indicator is an important measure of efficiency.
What affects the Recovery Rate?
A reduced or increased number of billed hours compared to those reported.
Changes in the billing rate, for example if a student's timesheet is billed at a lawyer's rate.
Marking some timesheets as free of charge.
The addition of 'technical' timesheets during billing.
Manual addition of timesheets to flat rates, or a change of flat rate value in billing.
Discounts provided on the invoice.
Hourly turnover
Hourly turnover indicates the actual remuneration per hour of work, taking into account all write-offs and billing adjustments. This indicator can be used to compare with the average cost per hour of work.
What affects hourly turnover?
All factors affecting the Recovery Rate
Set rate on the case
Columns in the report
You may encounter various columns in the report that will help you to better understand the performance and efficiency of your billing.
Time period filters
When working with reports in SingleCase, you can apply various period-based filters:
Filter client reports by creation date – takes into account the date of reported hours.
Filter timesheets by invoice taxable supply – this filters only invoiced timesheets by the date of taxable supply.
Filter timesheets by invoice payment date – filters only paid invoices, regardless of the timesheet dates.
Conclusion
Using the right reporting parameters allows you to manage billing effectively and optimise your team's performance.
Correctly interpreting the Recovery Rate and hourly turnover will help you to better understand the effectiveness of your business and identify areas for improvement.