Smart cloud-based legal accounting software

Legal accounting software helps law firms and solicitors track income and expenses while spending less time on financial admin. If you opt for cloud-based legal accounting software, you'll have more flexibility on-the-go, allowing you to work and monitor cash flow anywhere, online. Seamless integration with payroll tools also mean that you can pay associates at your practice easily and quickly.

Accounting software helps solicitors and lawyers spend less time on financial admin, their books, and tax returns. It's more user-friendly and efficient than spreadsheets and faster than going through files of old paper receipts. 

Legal practice accounting software like Sage offers comprehensive solutions for finance, operations, HR, and payroll. An example is Sage Intacct, a financial management system with tailor-made features for legal firms. 

We work with companies whose financial management needs range from simple cost tracking to detailed task-cost allocation and complex billing requirements. Our cloud-based system is centred on a high-powered general ledger that provides dimension-level tracking for all your transactions. This means you can significantly reduce the number of GL accounts you use, while also significantly expanding the way you report on your data. 

With automation of processes related to project costing, vendor management, accounts payable, billing, time and expense tracking, and resource management, Sage Intacct allows your finance team to focus on strategy instead of administrative processes.

Yes, accounting software often supports trust accounting with typical features such as keeping records and tracking funds held in trust for clients. This can help keep you compliant with trust accounting rules, creating accurate trust account statements, reconciling transactions, and maintaining audit trails. Integrating these functions into your accounting solution streamlines fund management processes while minimising errors and facilitating compliance.

For many growing legal firms, the billing process is too labour-intensive to scale. Billing for services can be complicated, depending on the various elements that you need to include on your invoice. 

Sage software is built to handle even the most complex invoicing needs, as well as the variety of revenue recognition methods that can be associated with them. 

Automation around time entry, expenses, invoice formats, vendors, and all the other components required for billing, are instantly available for your team to quickly draft and issue invoices. Sage helps you to scale your business without being held back by cumbersome processes.

When it comes to financial reporting, automation, accuracy, and customisation are critical requirements for an effective solution. Sage software's financial reporting excels at all three. 

By leveraging the general ledger’s dimensions, reports can be grouped and sorted in nearly unlimited ways. Financial reporting done right can provide the insight your financial team needs to go from burdened with administrative tasks to focusing on strategic planning. 

Whether you’re creating multiple profit and loss reports or automating project reports for your project managers, Sage can handle you needs.