Practice Overview Report

14/05/2025
Knowledge

How To

Location: LEAP Menu > Reports > Management > Practice Overview

Purpose: The Practice Overview Report aggregates various accounting balances and is currently cached on a daily basis. It provides an overview of a firm's current balances contained in LEAP accounting. To gain a broader understanding of your firm's financial position, you may need to obtain additional office balances from your accounting software.

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Please be aware that transactions entered after Today's initial run time will be incorporated into the report generated the following day. This is attributed to the batch processing approach employed by this report, wherein all daily transactions are collectively processed only once—at the initial run time of the day. Therefore, it is recommended to:

Generate this report once daily, preferably at the end of the day.
Consult other relevant reports (suggested in the below table), should you need to obtain the most up-to-date figures.

When referring to these additional reports, please note that, unlike the Practice Overview Report, they provide real-time updates. Consequently, variations may arise between the figures in this report and those in others due to updates occurring between the initial run time of the Practice Overview Report and the generation of other reports.

Report Fields:

Total WIP

Total Work in Progress (WIP) as at Today, inclusive of GST.

Note:

Specifically incorporates Time/Fee entries marked with the status 'Billable Next Invoice' or 'Billable Later Invoice', while excluding entries marked as 'Not-Billable'.
Excludes Time and Fee entries on draft invoices from calculations (i.e.,once included in a draft invoice, an entry is considered Billed).
Incorporates WIP entries related to all Staff including Inactive Staff.
Incorporates WIP entries on archived Matters.

For the most current figure, please consult the Aged WIP Report, making sure that the report is configured with the appropriate filters.

Trust Balances

The total 'Bank Balance' of all Trust Accounts.

NOTE:

Trust Accounts refer to those set up under LEAP Menu > Settings > Application Settings > Accounting > Bank Accounts > Trust Accounts.
To obtain the most up-to-date figure, please review the cumulative balances of all Trust Accounts as outlined in the Trust Trial Balance Report.

Anticipated Payments	Total amount of all unbilled Anticipated Payments, inclusive of GST.
Cost Recoveries	Total amount of all unbillled cost recoveries, inclusive of GST.
Payments	Total amount of unbilled payments, inclusive of GST.
Journals	Total amount of unbilled disbursement Journals, inclusive of GST.
	NOTE: Unbilled Disbursements (Anticipated Payments, Cost Recoveries, Payments and Journals): Incorporate those marked with the status 'Billable Next Invoice' or 'Billable Later Invoice' while excluding entries marked as 'Not-Billable'. Exclude Disbursement entries on draft invoices from calculations (i.e.,once included in a draft invoice, an entry is considered Billed). Incorporate Disbursement entries related to all Staff including Inactive Staff. Incorporate Disbursement entries on archived Matters. To obtain the most up-to-date figures: Please consult the Matter Balances Report, making sure that the report is configured with the appropriate filters. Please refer to the Aged Disbursements Report if you want to obtain an unbilled Disbursement balance that incorporates entries on draft invoices (i.e. only entries on finalised invoices are treated as Billed).

Banked to Office month to date

The total amount of all Office Receipts dated from the first date of the month to Today, inclusive of GST.

NOTE:

If you have more than one Office Account, this balance considers all Office Accounts.
To obtain the most up-to-date figure, review the relevant Receipt amounts of all Office Accounts in the Office Receipts Report. When referring to the Office Receipts Report, ensure the Start Date is set as the first date of the current month, the End Date is Today, and 'All' is selected for Bank Account and Payment Types.

Paid from Office month to date

The total amount of all Office Payments dated from the first date of the month to Today, inclusive of GST.

NOTE:

If you have more than one Office Account, this balance considers all Office Accounts.
To obtain the most up-to-date figure, review the relevant Payment amounts of all Office Accounts in the Office Payments Report. When referring to the Office Payments Report, ensure the Start Date is set as the first date of the current month, the End Date is Today, and 'All' is selected for Bank Account and Payment Types.

Less Credits	Total Credit as at report date.
Current	Total Amount of Aged Debtors for the Current time Period.
> 30 days	Total Amount of Aged Debtors for the specified time which defaults to >30 days.
> 60 days	Total Amount of Aged Debtors for the specified time which defaults to >60 days.
> 90 days	Total Amount of Aged Debtors for the specified time which defaults to >90 days.
	NOTE: The report categorises the amounts of Aged Debtor into the respective Ageing Period categories (eg., Current, > 30 Days, > 60 Days and > 90 Days). The report only considers finalised invoices for Aged Debtors amounts. Ageing Periods catetories can be customised under the LEAP Menu > Settings > Application Settings > Accounting > Reports. To obtain the most up-to-date figures, refer to the Aged Debtors Report. Ensure that the report is configured with the appropriate filters, including setting Invoices to only Printed Sent (Final) and Include Inactive Staff to Yes.

Matters opened for the month

The number of Matters opened / created from the beginning of the current month until Today.

NOTE:

To obtain the most up-to-date figure, refer to the Matters Opened Report. Ensure that the report is configured with the appropriate filters, including setting the date range from the beginning of the current month until Today and Include Inactive Staff to Yes.

Matters completed for the month

The number of Matters marked as Completed from the beginning of the current month until Today.

NOTE:

Completion Date is set under the Calendar & Tasks tab of a Matter.
To obtain the most up-to-date figure, refer to the Completed Matters Report. Ensure that the report is configured with the appropriate filters, including setting the date range from the beginning of the current month until Today and Include Inactive Staff to Yes.

Last Modified Date

14/05/2025 12:14 pm

Title

Practice Overview Report

URL Name

Practice-Overview-Report-NZ

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