Tip #233 - Use The Settlement Forecast Report To Show Projected Firm Income

Knowing the projected settlements for a specified time period is important in effectively managing your firm. It can give a glimpse into the number of cases you expect to settle over that time period, and/or the fees (revenue) you expect to generate. Among the reports available in SmartAdvocate, the “Settlement Forecast Report” was designed to give you this information. Also, because it is a report, you can set it up to have it sent to you on a schedule of your choosing.

In order for the “Settlement Forecast Report” to be effective, specific information must be entered in your cases.

1. Expected Resolution

2. Minimum Settlement Value

3. Retainer fee agreement (retainer structure)

The “Expected Resolution” and “Minimum Settlement Value” are entered by editing the case from the Summary Screen. To do so, click the “Edit Case” button on the right side of the Summary Screen, then enter the data in the fields as appropriate.

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The Retainer Fee arrangement is entered on the “Retainer/Referral” page. The Retainer Fee structure is used to calculate the expected/projected firm fee.

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The “Settlement Forecast Report” is available by going to: Reports > Financial Reports > Settlement Forecast Report.

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