The LAWS/Pro General Ledger
It seems at odds with the concept of efficiency
to utilize a standalone accounting system in conjunction
with another separate "Time and Billing" system. The developers of LAWS/Pro wholeheartedly agree.
LAWS/Pro offers a comprehensive General Ledger and Accounting system. Yet, maintaining the General Ledger
is transparent to the user and naturally flows from the daily tasks performed. For Example:
Whenever a user processes a deposit or writes a check, LAWS/Pro automatically posts the appropriate transactions to the General Ledger.
Performing these routine activities naturally results in an accurate cash balance along with reliable revenue and
A limited understanding of accounting is preferable. For Example: Users must specify which
General Ledger Accounts certain vendor payments must be applied to - such as specifying that the telephone bill must be
distributed to the firm's "Telephone Expense" account. Once the initial vendor is established the
cost will automatically be distributed to the specified account - unless manually overridden.
The LAWS/Pro General Ledger provides all of the standard accounting
features such as:
* On-line inquiry with the ability to drill down to detail transactions,
* Trial Balance reporting,
* Detail General Ledger reporting,
* A wide variety of formats for Income Statements and Balance Sheets,
* Ability to develop custom designed Financial Statements,
* Financial Budgeting with the ability to compare the Budget to Actual performance,
* Ability to analyze revenue and expenses per attorney,
* Processing Manual journal entries,
* Year End Closing Procedures.
All reporting may be printed via PDF reports or dumped into a CSV file which is able to be opened as an Excel spreadsheet.
Many firms outsource review of the General Ledger to an outside accountant. Maintaining data offsite is often
a cumbersome process requiring the accountant to re-key all financial transactions into a totally independent
general ledger system. Aside from being costly and inefficient, there is often a significant delay,
(weeks to months) in the reporting back the financial position to the firm.
LAWS/Pro addresses this situation and provides a much better solution. The law firm has the option of
defining an outside accountant as a Non-Chargable user. Based on the permissions assigned to the accountant,
they'll have the ability to review the firms actual general ledger and process any adjusting journal entries on-line.
As a security measure, its usually recommended that an independent individual - lacking the ability to write
checks or process deposits - reconcile the firms bank accounts. Using LAWS/Pro, your accountant can easily reconcile the firms
bank account - on line - from the convenience of their office. The law firm saves money by
decreasing travel time, and eliminating all time involved in transferring information back and forth between the
LAWS/Pro is a cutting edge Cloud based application offering many advantages.
Often times firm administrators must take a leave of absence due
to the birth of a child or some other situation. Using LAWS/Pro they can still continue to perform some measure of their duties
from their home - at whatever time it is convenient for them.
Rather than incurring the added cost and being forced to hire and train a temporary on-site
replacement, the majority of required duties can continue to be performed by the administrator, with the remainder of duties
transferred to associates within the firm.
Laws/Pro is designed to increase efficiency and save money.