Practice Overview Report

16/07/2025
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 tax.

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 Balance

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 Expeses	Total amount of all unbilled Anticipated Expenses, inclusive of tax.
Expense Recoveries	Total amount of all unbillled Expense Recoveries, inclusive of tax.
Expense	Total amount of unbilled Expenses, inclusive of tax.
Journals	Total amount of unbilled Disbursement Journals, inclusive of tax.
	Note: Unbilled Disbursements (Anticipated Expenses, Expense Recoveries, Expenses 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 finalized invoices are treated as Billed).

Banked to Office month to date

The total amount of all General Account Payments Received dated from the first date of the month to Today, inclusive of tax.

Note:

If you have more than one General Account, this balance considers all General Accounts.
To obtain the most up-to-date figure, review the relevant Payments Received amounts of all General Accounts in the General Acount Payments Received Report. When referring to this additional 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 to date

The total amount of all General Account Expenses dated from the first date of the month to Today, inclusive of tax.

Note:

If you have more than one General Account, this balance considers all General Accounts.
To obtain the most up-to-date figure, review the relevant Expenses amounts of all General Accounts in the General Account Expenses Report. When referring to this additional 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 Rtnr./Credits	Total Retainers & Credits as at report date.
Current	Total Amount of Accounts Receivable for the Current time Period.
> 30 days	Total Amount of Accounts Receivable for the specified time which defaults to >30 days.
> 60 days	Total Amount of Accounts Receivable for the specified time which defaults to >60 days.
> 90 days	Total Amount of Accounts Receivable for the specified time which defaults to >90 days.
	Note: The report categorizes the amounts of Accounts Receivable into the respective Aging Period categories (eg., Current, >30 Days, >60 Days, and >90 Days). The report only considers finalized invoices for Accounts Receivable amounts. Aging Periods catetories can be customized under the LEAP Menu > Settings > Application Settings > Accounting > Reports. To obtain the most up-to-date figures, refer to the Accounts Receivable 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:

File closed 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

16/07/2025 1:27 am

Title

Practice Overview Report

URL Name

Practice-Overview-Report-CA

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