Creating Timekeeper Budgets

This article covers the following:

• Creating a Timekeeper Budget
• Exporting and Importing a Timekeeper Budget
• Downloading a Timekeeper Budget Spreadsheet

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Creating a Timekeeper Budget

If you are creating a Law Firm Budget, you can select a Timekeeper Budget if this feature is enabled for your organization. A Timekeeper Budget allows you to include specific timekeepers in your budget.

Before proceeding, determine which Budget Structure you want to use:

• Phase Code Set - Describes the phase of work performed on a Matter.
• Task Code Set - Describes the task performed by the timekeeper. Task codes also include expenses billed to the matter.
• Custom Code Set - Task codes that are custom-defined by your organization.

You must select an Annual Budget Period for your Timekeeper Budget options to appear.

1. Select either Phase Code Timekeeper, Task Code Timekeeper, or Custom Code Timekeeper from the Budget Structure drop down menu.

   

2. Select the codes against which your timekeepers will bill from the corresponding code set section.
   For example, if you select Phase Code Timekeeper, the Phase Code set appears below the Budget Structure selection.

   

3. Select Law Firm Rights for your budget. If you select Edit or Lead Law Firm, you have the option to request Budget amounts from the law firms you include on your Timekeeper Budget.

   

4. Select the law firm offices for the timekeepers you wish to include.
5. Finish all other information as necessary and click Save.

Adding Timekeepers to a Timekeeper Budget

After saving the budget, you must add timekeepers from the Budget Overview page.

1. Select the Amounts tab on the Budget Overview page.

   

2. Click Add Timekeepers. The Add Timekeepers window displays.

   

3. You can add timekeepers from the Law Firm Office tab or the Fee Offer tab:
   • Law Firm Office -Displays all timekeepers associated with the selected office.

   • Fee Offer - Displays only timekeepers included in the fee offer.

     Selecting timekeepers from the Fee Offer tab pre-populates their approved rates when editing budget amounts.

4. Click Add once you've selected the appropriate timekeeepers. The budget refreshes with the timekeepers added.

   

Adding Timekeeper Budget Amounts

After adding timekeepers, you must estimate and enter budget amounts for each code. If you are updating an existing budget, you can save time by exporting current values and importing an updated file. (See the section below on exporting and importing budgets.)

1. Select the Amounts tab on the Budget Overview page.

2. Select the law office for which you want to add amounts.

3. Click Edit Amounts. The Edit Timekeeper Budget Amounts page displays.

   

4. Enter the estimated Hours for each timekeeper and code.

   If timekeepers were added from the Fee Offer tab, their approved hourly rates will be pre-populated. If timekeepers were added from the Law Firm Office tab, you must manually enter the required values.

5. Fill in Others if necessary. This allows you to budget amounts for timekeepers not currently listed.

6. Fill in Other expenses if necessary. This allows you to budget for expense charges not included in the listed expense codes.

   

7. Fill out a Change Reason if needed.
8. Click Save.

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Exporting and Importing a Timekeeper Budget

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Instead of manually entering Timekeeper Budget values in CounselLink, you can import an Excel file to populate budget amounts.

You may also export an existing Timekeeper Budget to update it or reuse similar values in a new budget.

1. Select Export Budget from the More Actions button in the Amounts tab.

   

2. The budget Excel file downloads to your default downloads folder.

Importing a Timekeeper Budget

1. Select the Amounts tab on the Budget Overview page.
2. Select the law firm office for which you want to add amounts.
3. Click More Actions.

4. Select Import Budget.

   

   The Import Timekeeper Budget window displays.

   

5. Drag and drop your file or click Choose a File to select a file from your computer.

6. Click Import. The Import Timekeeper Budget - Status window displays to show the status of your import values.

   

   • Green check mark - A record was present on the budget and the value will be updated.
   • Green plus sign - The record was not previously on the budget and will be added.
   • Grey 'no' symbol - No change was made for the record compared to the previous budget.
   • Yellow triangle with exclamation point - There is an error with the record.

7. Optional: If you see errors (), click View Status Report to see a detailed report of the errors. You can then correct the errors and re-upload your file if you wish. If you don't need to correct them, proceed to the next step.

   Only valid entries will be updated.

8. Once you have resolved any applicable errors, click Continue. The Import Timekeeper Budget - Edit Key Matter Assumptions window displays.

   

9. Enter Key Matter Assumptions to detail reasoning for the estimates.
10. Enter Change Reason if necessary.

11. Click Continue. The Budget Overview page updates with a success message and the new amounts populated in your tab.

    

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Downloading a Timekeeper Budget Spreadsheet

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CounselLink provides an Excel template that you can use to import Timekeeper Budget amounts. The spreadsheet includes an instructional tab with examples.

1. Select the Amounts tab on the Budget Overview page.

2. Select the law firm office for which you want to add amounts.
3. Click More Actions.

4. Select Import Budget.

   The Import Timekeeper Budget window displays.

   

5. Click the Budgets.xlsx link. The file downloads to your default download location.

6. Open the spreadsheet file.

   

7. Click the Example and Details tab to view a guide on how to complete the spreadsheet.
8. Save the completed file.

Once you are finished, you can import the completed file to populate the timekeeper budget amounts.