Dynamic Two

carl

Business Cash Forecast

Business Cash Flow Forecast
Business Cash Forecast

Dynamic Two allows for an up-to-date Business Cash Forecast. Managing Business Cash is a key consideration for any business.

This is a Business management report that deals specifically with cash on hand, and takes into consideration Accounts Payable, Accounts Receivable and Expenses paid.  This results in a forecast of the cash we can expect to hold at the end of our month.

Learn to manage the business by looking at this report daily, and keeping track of up-to-date changes to the cash in the business.

Much like a weather forecast this depends on a wide variety of factors, and is only a forecast.  As a management tool it is intended to give management an instant high-level glimpse of the financial prospects of the business.

This only affects the Business, as the Trust does not have an income or cash flow.

-Dynamic

carl

Software Update 2.0.0.116

Description: Ledger History Report
Status: Effective immediately
Date: 30 July 2018

Explanation:

The Ledger History Report (LHR) allows for browsing a specific ledger between dates.

Various cosmetic changes are being implemented.  Functionality remains the same.  Look out for future updates as this report receives more attention.

The standard Ledger History Analysis and Ledger History Report have been retained.

 

Description: Fee Book
Status: Effective immediately
Date: 30 July 2018

Explanation:

The Fee Book has been updated based on user feedback.  Functionality remains the same.  Specific attention was given to the Fee Book Entries and Fee Book Manage functions to allow for a more streamlined and colorful user experience.

 

carl

Software Update 2.0.0.105

Description: Ledger History Statement View
Status: Effective immediately NEW 
Date: 12 April 2018

Explanation:

The Ledger History Statement View (LHSV) is a special Ledger History type report that provides diagnostic information on Statement transactions.  To see the invoice status, or VAT % of a specific entry, please use the Statement View.  In addition the LHSV will include any Fee Book transactions which may apply.

The standard Ledger History Analysis and Ledger History Report have been retained.

 

Description: Client Investment Balance List PDF rotated to A4 Landscape
Status: Effective immediately
Date: 30 April 2018

Explanation:

Additional information was added to the Client Investment Balance List and a landscape lay-out fits the report better.

 

Description: Client Balance List PDF cleaned up
Status: Effective immediately
Date: 5 May 2018

Explanation:

The Client Balance List PDF received some TLC to improve lay-out and readability.

 

Description: Management Snapshot extended
Status: Effective immediately
Date: 11 June 2018

Explanation:

A business cash management section was added to the Management Snapshot.  In addition to current functionality, this allows instant access to a summarized business cash management report.

 

Description: “Quote” type added to the Fee Book
Status: Effective immediately  NEW 
Date: 19 June 2018

Explanation:

A new fee type “Quote” has been added to the Fee Book.  This makes it possible to issue quotations as pro forma Statements directly from the Fee Book, or use the option as a place holder for provisional disbursements.

Contingency, To be Reviewed and To be Taxed options remain.

 

search
carl

Search on a Processing Console screen

Search options on a Console processing screen
Search options on a Console processing screen

The Dynamic Console Processing screen allows for interactive information search and display.

 

When processing transactions it is important to be able to see accurate, up-to-date information immediately.  Find the correct account number to process against and avoiding mistakes and duplicate transactions are important.  Dynamic provides several tools to make processing quick, easy and error free.

 

All processing screens allow for multiple search options.

search
Search

SEARCH The magnifying glass, on the right hand side of the screen represents the general Search option.  This allows standard and extended searches on a variety of data fields, including, but not limited to the file name, parties, email and legacy numbers.  This is the most powerful search available and should locate any file on a variety of criteria.  Returning from a successful search will automatically update the Account number input.

 

 

QUICK SEARCH The Quick Search requires at least four (4) characters to search.  This is handy for on-screen searches on information such as legacy numbers or client references.  Selecting an item from the drop down list will automatically update the Account number input.  This search is designed to facilitate posting.  Searches are limited, but very fast.

GUIDE DATE The Guide Date Date Control Selector is useful and optional, but handy for processing on a specific date.  Common use includes backdated transactions, such as capturing year end or audit correction entries, or finalizing a previous month end.  For normal, up-to-date processing this control may be ignored.

REAR VIEW MIRROR The onscreen Rear view Mirror updates automatically with the current account.  It includes a header with ordinary file information, such as the client and party names, the legacy number and department and file type.  It also shows the last few transactions and current balance on the account.  This short report is intended to facilitate processing and prevent duplicate transactions.

 

These Dynamic tools provide a powerful user dialogue to facilitate accurate and easy transaction processing.

Dynamic

carl

Manage your Cash Flow with the General File Detail Report

Effective cash flow management is critical to any successful business. In addition to standard Financial Reports and User Reports, Dynamic provides a powerful management report in the form of the General File Detail Report.

The General File Detail Report is available in the Core module, Front Desk and Dynamic Online Reports.

Just like all other Dynamic Reports, the General File Detail Report generates as a PDF document from the Console modules, and the Dynamic Online Report can be printed directly from the web page.

Why use the General File Detail Report?

Unlike Financial Reports that follow strict guidelines concerning layout, the General File Detail Report contains information relevant to managing the professional matters in the practice.  The report uses a typical current-status approach to each file, showing up-to-date file information.

From left to right, columns generated include the #Account number, the Legacy number & Client name, the current balance, the nature of the balance and the days since the last balance movement and the current Fee Book balance.

Handy sort options include the File Type, Department and Fee Earner to manipulate the report to management specifications.

In addition, the column headers can be used to sort the report in the desired order.

Note that only Active files will be included in this report.

To facilitate use by management, this report utilizes terminology which makes it easy to understand.

For instance, a line such as
“#00002 ABC123*Charles Darwin 4148.90 Receivable 8 days” means the following

Account #00002 for Legacy number ABC123 which is our client Charles Darwin has a debit balance of4148.90. This is  Receivable and the last time we worked on this file was 8 days ago.

By sorting this report by Balance Type, or days since last movement makes it easy to see when last work was done, and gives a user friendly interpretation of Age Analysis data.

The information contained in this report is easily supported by additional reports.

Other reports to consider are

  • Age Analysis
  • Ledger History Reports
  • Cash Flow Statement
  • Client Balance List

For day to day management with an emphasis on current, up to date information, the General File Detail Report is the managers’ preferred tool.

 

Dynamic

carl

New version 2.0.0.71 Released

A new version is available.

Dynamic software is subject to constant review and improvement. Based on valuable client feed back we implement changes.

Improvements available with update 2.0.0.71 include the following:

  • Use of Legacy numbers on statements and invoices
  • Default Fee Earner, Department and File Type now available in droplists
  • Fee Book allows Batch fees to be imported or Rejected
  • Local currency unit from Config will show on the Console
  • General Search result will update File Take On dialogue

How to get this update?

Open Dynamic
Type PIN
Cancel Cloud password
Click Utility -> Quick Update
Wait for the update to complete
Dynamic will re-open after the update
Type PIN
Type Cloud password
Click Utility -> Refresh Bookset & Folders

Thank you for using Dynamic

-Dynamic

carl

Dynamic works on all supported versions of Windows

DynamicLTA One and DynamicLTA Two Core and Front Desk modules are designed specifically for the Microsoft Windows* environment and offers Microsoft Outlook integration.

Dynamic Online Reports are browser based and operating system independent.  This means that transactions captured on a DynamicLTA Two Windows front end, can be browsed on an Apple device using the Safari browser.

*Only supported Microsoft Windows Operating Systems are recommended.

carl

Income Statement has been modified

The Financial Report: Income Statement has been modified.  The content remains unchanged, but changes have been made to the formatting and layout.

This is in direct response to user feedback.

Please note that the Dynamic One application is being re-worked to follow the same layout as Dynamic Two.  Please see elsewhere for an update on when the new version of Dynamic One will be available.

Dynamic

Matter Take On
carl

Opening A New File: Matter Take On

How to Open a new client file on Dynamic follows a simple sequence.

The Menu item is located in File Index, under Open or Amend Client Ledger Accounts.

Once opened, files are immediately visible throughout the system.

For any new system, the first number will appear as #00000.

To activate the Take on Screen, press Tab or Enter, and watch the progress bar run as the screen is populated.

The image below shows the main features of the Take On Process.

Matter Take On
Matter Take On

 

Note that only the account number input and Save button controls are available.  Save will only be available after selecting an account number.  

The following sequence applies

  1. If you know the number of the account you want to use, type this into the ACNO box, press Tab or Enter. 1 above.
  2. Complete all the details. Click the Save button. 2 above.
  3. If you want to open a new matter for an existing client, start with an existing account number.  Tab or Enter, wait for the screen to populate and then click the Save button. At this point a popup will appear “Do you want to open a new file?”  If you click the No button, you may continue with an existing file.  If you click Yes, the system will automatically supply the first available number. 3 above.
  4. Previous file information is cleared away.
  5. Where SetOff is anticipated, use a main control account for the client, and on each matter insert the main control account number into the Link No box. 4 above.

Additional notes

File Type to facilitate Compliance Reporting
File Type to facilitate Compliance Reporting
  • The Reference box is used for the Client’s Reference. This can be a name or a number provided by the client.
  • The Legacy # box refers to a previous number used by this firm for the same matter.
  • The Department dropdown is used to distinguish different departments within the firm, often headed by lawyers. This selector can be used for internal administrative purposes.
  • The File Type dropdown is used to distinguish the nature of the professional mandates on different files. This selector can be used for Compliance Reporting categorization.
  • All new files start off with Status marked as “1 Active“
  • The search General Search icon is always available to search for existing files. The Advanced Search option includes Invoice numbers.
  • The account number input 1 above and the Save button 2 above control all input.

[This post was revised on 9 January 2019]

-Dynamic