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Legal Operations and Spend

What Are Legal Accruals?

Estimates of legal work performed but not yet billed, reported so finance can record the liability in the right period.

Legal Tech GlossaryBy The Circle Desk

Why It Matters

Finance teams depend on accurate accruals at each month and quarter end. Spend management tools collect them from outside counsel automatically instead of by email.

Legal Operations & Spend Management Companies

See every Legal Operations & Spend Management company

Related Terms

Legal budget
A legal department's plan for internal costs, outside counsel and technology over a year, often broken down by matter or business unit.
Legal spend management
Software and processes for budgeting, tracking and controlling what a legal department spends on outside counsel and vendors.

General information, not legal advice. Part of the Legal Tech Glossary, 173 terms in plain English.