When transitioning to CARET Legal, it’s essential to understand how your billing and accounting data will be transformed during the migration process.
What Data Can Be Migrated?
CARET Legal’s Migration Team can bring over the following data from your existing billing/accounting platform:
- ⏱️ WIP (Work in Progress) – Unbilled time and expenses (soft costs)
- 💰 Accounts Receivable (AR) – All open client balances
- 📊 Chart of Accounts
- 🧾 Vendor List
How AR Balances Are Migrated?
When open AR balances are brought into CARET Legal, an invoice is created to reflect the amount owed by the client. There are two main options for how this can be done:
🔹 Option 1: Balance Forward
A basic AR migration that:
- Creates a single invoice per open balance
- Includes:
- One line item for total fees
- One line item for total expenses
- Does not include detailed invoice information (only invoice number and date)
- Allows future payments to be applied to the invoice
✅ Best for firms that don’t require detailed historical billing data.
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🔹 Option 2: AR by Timekeeper
An advanced AR migration that:
- Breaks down balances by individual time entries for each timekeeper
- Maintains:
- Original invoice numbers
- Line items
- Partial payments
- Ensures accurate allocation of:
- Past partial payments
- Future payments to the correct timekeepers
⭐ Recommended for firms that need detailed billing data for productivity tracking or compensation purposes.
Integration with Historical Time & Expenses
If you choose to migrate Historical Time and Expenses, the AR by Timekeeper method will be used by default as part of the historical activity migration.