How can expd8 Accounts help with the dreaded Professional Indemnity proposal form!?

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1 How can expd8 Accounts help with the dreaded Professional Indemnity proposal form!? Questions as per the Common Proposal Form 2012/2013 Application 1. Please provide gross fee exclusive of VAT for the last five completed accounting periods and an estimate for the current year: From the Reports menu in expd8 Accounts print the following report, Bills by Fee Earners, Include transactions for each year, tick the Summary report only box. You will run this report for the five different periods that are required. 2. The Largest total Fee that you have charged in the last 12 months: From the client menu, click the Find key, search for transaction types Bill (C/P or Fee Bill) Set the dates for the last 12 months and click find. Click on the amount column to sort by amount and scroll to the bottom of the list. This will show you the largest fee income and who the client was. 1

2 Use the inquiry icon and enter the client number in this case DOJ001002, click on the C/P tab and look at the Fees column this will give you the exact amount of professional fees. 3. The average fee charged in the last 12 months: From the reports menu run the Bill Journal report. Include transactions for the past 12 months, sort by Bill #. This will display a list of bills for the 12 month period selected. Take a note of the total bills at the end of the report. Export the report to excel by clicking: As the bills are now in excel you can scroll to the bottom of the sheet and take note of the line number In the case above you can see that there are 26 lines, so if you allow 1 line for the headers that means that there were 25 bills raised in the firm this year. To get the average bill you should now take the total that was noted earlier and divide by the number of bills, in this case 25. 2

3 4. Please provide a percentage breakdown of the gross fee income for the last accounting period into the following categories: From the Reports menu in expd8 Accounts print the following report, Bills by Fee Earners, Include transactions from the last five years, tick the Summary report only box. If you look to the matter summary on this report, it should display the entire fee income per category ex VAT for the period selected. Look at the Fees Billed Column. To get the percentage of per category, take the sum of bills for the matter category as per the report and divide it by the total bills line and multiple by 100%. 5. Please specify the largest & average settlements on behalf of any claimant in the last five years: From the Month/Year-end menu, select the Cheque Register Include transactions for the last five years, select the client bank, print cheque detail and view. 3

4 From the top tool bar click the binoculars and search for the settlement This will display results where you have included settlement in the memo You can then click down the search results. 6. Please provide for the last five years: Approximate number of PPR transactions & Commercial Conveyancing Transactions: From the Reports menu, select the File Room Listing, set the dates for the past five years, in the matter type range, select the categories that relate to PPR, in this case conveyance private, tick al and view. You can now view a list of files and the open date. 4

5 Repeat this process for the report on commercial. 7. If fees have been received in the last 6 years in connection with commerical or PPR conveyancing, please state the approximate number of transcations in the last 3 years. Again use the file Room Listing Report for each of the sections and note the number of files in each section. Now total all the noted figures. To get the percentage of each section divide the number of files for that section by the total number of files noted and multiply by 100%. Please note that expd8 is not liable for the data in your expd8 accounts software. It is your responsibility to ensure that the information in the software is correct; the above reports will only give correct information if the data in there is correct in the first instance. 5