Onit Documentation

spend_to_date calculation

by Christina Moore Updated

Mentioned below is the explanation for the calculation of ‘Spend to date’ Field on the invoice.

  • The invoices in sent states ('pending_approval', 'pdating_pending_approval', 'approved', 'getting_vendor_ack', 'paid', 'partial') are considered for this value.
  • The 'Spend to date' value is the summation of the totals for the above-mentioned invoices converted into the selected currency.
  • The currency conversion considers the spot rate (foreign exchange rate) for the selected currency which was applicable on the day of submission for each invoice.
  • If the spot rate is not available for any date, then the latest applicable spot rate for the selected currency is used.

Vendor Widget:

The vendor widget which is placed in the center of the 3 widgets, contains values of the law firm that has raised the invoice. Multiple law firms can raise invoices against the same matter, so the value in this widget in such cases would be less than or equal to the value in the matter widget which is the 3rd widget.

Matter Widget:

The matter widget is the third one, placed on the right. This contains the sum of records for all the invoices against that matter across all law firms.

 Please find below examples of currency conversion.

  1. The first table and image show an Invoice in being displayed in its default currency which is CAD in this case. Since the invoice is already in CAD no conversion is required here hence client_base_to_selected_spot_rate value is 1.
  2. The second table and image show an Invoice in being displayed in GBP currency. In this case the totals of all the invoices for that matter are first converted to GBP based on the  value in client_base_to_selected_spot_rate value and then the summation of the totals is displayed.
Selected Currency:  CAD Matter Currency:  CAD
invoice_number spot_rates_updated_at invoice_total_in_

 client_base_currency
client_base_to_

 selected_spot_rate
converted_total
1313770 Friday, 22 March 2019 9637.78 1 9637.78
1272295 Friday, 1 February 2019 2581.19 1 2581.19
1352745 Wednesday, 24 July 2019 1138.25 1 1138.25
1344019 Tuesday, 2 July 2019 39735.42 1 39735.42
1359122 Thursday, 15 August 2019 1621.15 1 1621.15
1333783 Monday, 27 May 2019 26720.19 1 26720.19
1334899 Wednesday, 29 May 2019 11830.93 1 11830.93
1314761 Tuesday, 21 May 2019 29528.45 1 29528.45
1322393 Tuesday, 21 May 2019 5461.31 1 5461.31
1333774 Monday, 27 May 2019 8367.32 1 8367.32
1368185 Friday, 7 February 2020 37191.54 1 37191.54
1377522 Friday, 7 February 2020 31856.7 1 31856.7
1417215 Wednesday, 29 April 2020 34191.55 1 34191.55
Total


239861.78

Screenshot:

Selected Currency: GBP Matter Currency:  CAD
invoice_number spot_rates_updated_at invoice_total_in_
client_base_currency
client_base_to_
selected_spot_rate
converted_total
1313770 Friday, 22 March 2019 9637.78 1.69 5702.828402
1272295 Friday, 1 February 2019 2581.19 1.69 1527.331361
1333783 Monday, 27 May 2019 26720.19 1.74 15356.43103
1334899 Wednesday, 29 May 2019 11830.93 1.74 6799.385057
1314761 Tuesday, 21 May 2019 29528.45 1.74 16970.37356
1322393 Tuesday, 21 May 2019 5461.31 1.74 3138.683908
1333774 Monday, 27 May 2019 8367.32 1.74 4808.804598
1352745 Wednesday, 24 July 2019 1138.25 1.66 685.6927711
1344019 Tuesday, 2 July 2019 39735.42 1.66 23937
1359122 Thursday, 15 August 2019 1621.15 1.65 982.5151515
1368185 Friday, 7 February 2020 37191.54 1.72 21622.98837
1377522 Friday, 7 February 2020 31856.7 1.72 18521.33721
1417215 Wednesday, 29 April 2020 34191.55 1.7 20112.67647
Total 140166.0479

Screenshot:

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