Iridium has taken profitability analysis and reporting capabilities to a level that law firms could previously only dream of! In part two of this product-agnostic series, we will focus on the expense side of the profitability equation. The session will cover a “start to finish” example of best practices for expense handling within a profitability implementation. Topics covered will include:
– Loading expenses from multiple sources
– Expense data validation issues
– Handling residual GL calculations
– Appropriate expense granularity in your profit cube
– Best practices allocation methods and rules
– Custom allocation methods
– Handling Partner compensation/draws
– Intra-office expenses
– Should your profit cube expenses reconcile with your P&L expenses?
– Expense adjustments for rainmakers
– Expense assignments for part-time timekeepers
– Exceptional expenses
– Smoothing techniques for expenses
– Working with multiple expense scenarios
– How accurate are your allocated expenses?
– Handling partner questions about your expense allocations
– And more!
This session will take place July 29th at 9:00AM Pacific.