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The Lockup dashboard shows the comparison between the total of the past 4 periods of Chargeable Input versus the total lockup of the WIP and Gross Debt for that period.
A positive variance means that your total lockup is less than the past 4 periods of chargeable work and vice versa.
This is important as a typical accounting practice who does not offer direct debit, standing orders or fixed price agreements would be financing its running costs via working capital from a bank overdraft or its investors.
As an example, if a fee is raised on 31 July for the work done in that period, the practice would have incurred costs in that period whilst the work was being done; this requires say 30 days capital. The practice then offers 30 days credit and then there is at least another 30 days to actually collect the cash. The total of 90 days working capital is a reasonable requirement. In reality this may be much higher, hence looking at the last 4 periods or say 120 days.
The variance is also shown as the total number of Days Lockup for an easier comparison.
The partner, manager, user selected category and the filters are discussed in more detail in the Portfolio dashboard as they work in the same way.
