Feature
Recognized revenue + WIP, side by side
Pure recognized P&L hides work-in-progress; pure WIP-included P&L overstates profit on work that may not invoice. Reckonry shows both, toggleable at report time, with conservative defaults for fixed-fee engagements.
Why it matters
Firms either look at recognized revenue (and miss the work that's racked up cost but hasn't invoiced yet), or they include WIP at standard rates (and overstate profit on jobs that may write down or never bill). Both views are useful; neither is correct on its own.
The cost of picking the wrong lens shows up months later — in a fixed-fee engagement that looked profitable until the final invoice landed, or in a quarter that looked thin until the WIP cleared. Reckonry lets a managing partner see the same engagement under all three lenses and decide which one to act on, instead of guessing which way the summary is biased.
Recognized: $48,200 · + WIP cost: ($2,140) · + potential: $5,860.
How it works
5 concrete capabilities
- 01
Three report-time lenses
Toggle between recognized only, recognized + WIP cost, and recognized + WIP cost + potential value — without re-running anything. Most tools force one view; this one lets you see the same engagement under all three lenses and decide which fits the question.
- 02
Honest fixed-fee math
Revenue allocates per time entry directly when Karbon invoice lines carry a TimeEntry link to a specific entry (the post-2026-04-28 self-serve API surface). Proportional-by-standard-value is the documented fallback for legacy lines. Either path recognizes revenue on the entry date, so realization variance lands on the right staff and the right period.
- 03
Sent-to-Client tollgate
Only invoices that have crossed Karbon's Sent-to-Client status count toward recognized revenue. Draft invoices are tracked but contribute nothing until they actually go out — so reports don't quietly inflate from invoices still in someone's review queue.
- 04
T&M write-ups and write-downs land where they happened
When direct attribution is present, per-entry write-up or write-down is exact: the staff member and date on the entry get credited or charged the variance from standard rate. No more realization shrinkage hiding inside a client-level summary.
- 05
Conservative default for fixed-fee 'potential'
For FF jobs, the default 'potential value' lens is min(WIP at standard, unbilled fee balance) — capped at the fee still remaining, weighted by work actually done. Prevents overstating profit on jobs that may run over budget. Full-fee and off options are available when you want them.
What it looks like
Screenshot placeholder
Profit-by-client report with the three WIP lenses as segmented control; same client row reshapes under each toggle, parentheses on negatives, mono numerals.
Start free
See your firm's numbers in a few hours.
Connect Karbon, enter annual cost assumptions, and pull your first profitability report. The 7-day trial clock starts the moment your Karbon API key validates — not at signup — so the queue at Karbon doesn't eat your trial.