Time Ledger Practice Summary - WIP movements

Introduction

The WIP movements tab on the Time Ledger practice summary displays totals for a number postings entered into the Time Ledger, giving the WIP movements for a specified period. For example, Period 2003/10

To access the Practice summary, WIP movements tab:

Enter the Time Ledger.

Click Enquiries.

Select Practice Summary.

Displays is the Time Ledger practice Summary, WIP movements tab.

The following fields are available:

Brought Forward

The brought forward field displays the WIP balance bought forward from a previous period. For example, if the end balance for 2003/7 was £20,000 then the brought forward balance for 2003/8 will be £20 000.

Note: If the previous period has not been closed the brought forward figure will be provisional. This is because postings can be made into an open period, changing the figure to be brought forward. Click here for the help topic for closing a period.

Time

Displayed is the total WIP value of time posted into the period. For example, £4000 of WIP posted by staff.

To display the postings making the totals click the magnifying glass next to the Time field.

Expenses

Displayed is the total value of expenses posted for the period. For example, £300 of expenses posted by staff.

To display the postings making the totals click the magnifying glass next to the expense field.

Gross WIP

The Gross WIP figure displays the total value of Time & Expenses posted for the period. For example, £4300

Interim Invoice

The interim invoice field displays the total value of interim invoices posted to this period. For example, £-200. The period to which interims, and all Fees ledger postings, are transferred to the Time Ledger is determined in the Fees Ledger Options, WIP write out tab.

To display the postings making the totals click the magnifying glass next to the expense field.

Interim Invoice adjustments

Displayed is the total value of interim invoice adjustment postings. For example, £100 As interims are finalised with a final invoice an adjustment posting is made to the Time Ledger.

To display the postings making the totals click the magnifying glass next to the interim invoice adjustments field.

Net WIP

The Net WIP figure on the Time Ledger Practice Summary is Gross WIP less interim invoice and interim adjustment postings. For example, £4100

WIP written out

Displayed the total value of WIP written out for the selected period. For example, £-1000

To display the postings making the totals click the magnifying glass next to the WIP written out field.

WIP written off

Displayed is the total value of WIP written off for the selected period. For example, £-100.

To display the postings making the totals click the magnifying glass next to the WIP write off field.

WIP write back

Displayed is the total value of WIP written back for the selected period. For example, £50. To display the postings making the totals click the magnifying glass next to the expense field.

Carried Forward

Displayed is the carry forward balance for the period. For example, £3050. The carry forward is the balance as at the end of the selected period. This balance will be 'carried forward' to the following period.

WIP movement Columns

The first column displays movement details for the current period and period number. For example, 2003/8.

The second column displays movement details for the practice financial year to date. For example, from 2003/ 1 to 2003/8.

The third column displays the movement details for the previous year. For example, 2002/8.

The fourth column displays the movement details for the previous year to date. For example, 2002/1 to 2002/8. This can be used to compare the current years movement performance to the previous year.

Previous Period

Click Previous Period to display practice recovery details for the previous period.

Next Period

Click Next Period to display practice recovery details for the next period.

Click Print to print the details displayed on screen.

Cancel

Click Cancel to exit.