The “Interest on Disbursements” report provides a list of unbilled disbursements by client/matter and calculates interest on the disbursements at the yearly rate you specify. Interest is not entered on the client/matter.
The report includes the following information:
- Date Issued
- Disbursement Description
- Amount
- Age in Days
- Interest Amount
To print report:
- Click on Reports
- Select the Interest on Disbursements report
- Transactions From - Select the date range for transactions to include on the report.
Note:
- Default range is 01/01/1980 to current date. The From date is critical and must be before any data has been entered that may affect the report as opening balances will not be included.
4. Client - Select the client/matter to run the report for. The dropdown will produce a list of the current open clients/matters.
5. Yearly Interest Rate - Enter the interest rate of the disbursements in decimal form.
6. Charge Interest - Select “Disbursements,” “Other Charges,” or “Disbursements and Other Charges.”
7. Output method - Select “View” to display the report on the screen, “Export to CSV” to export the report or “Print” to print the report.
8. The calculation is as follows: The Amount of the disbursement divided by 365 days. Multiplied by the Age in Days. And then multiplied by the percentage charged.
Note:
- The report can be exported to Excel or PDF from the “View” screen.
Interest on Disbursement Sample Report
Tips:
- Select memorize to add the report with the current options to the memorized reports. Report can only be added once to the memorized reports.