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General Ledger Software for Law Firms

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LSS General Ledger software includes financial reporting, budgeting, recurring transactions, auto check void, vendor history, 1099 reporting, check reconciliation, paperless file management, and customizable integration with other LSS components such as Time Accounting, Accounts Payable and Payroll.
 


Integration
LSS General Ledger eliminates unnecessary work by integrating financial accounting with time and billing, trust accounting, accounts payable, check reconciliation, document management and payroll.  From Time Accounting, you can post a payment, write-off, time entry, trust deposit, or anything else that affects your general ledger, and LSS posts the journal entries for you.  Even when you reverse a prior bill or payment, LSS makes all the necessary journal entries.  General Ledger seamlessly integrates with all of the following:

     -  Time and Billing
     -  Trust Accounting
     -  Accounts Payable
     -  Payroll
     -  Check Reconciliation
     -  Microsoft Access
     -  Microsoft Excel
     -  Microsoft Word

Paperless File Management
In much the same way that you can attach files to an email, LSS allows you to attach files to any workflow check request or general ledger transaction.  For example, you can attach a working spreadsheet as backup to a general ledger transaction.  Then, from any account detail inquiry, you can click the attachment button to retrieve the spreadsheet associated with that specific transaction.  Virtually any type of electronic file format is supported - PDF, Excel, Word and more. 

Flexibility
With LSS, firms can customize the integration to meet their particular management needs.  Cash, modified cash, accrual, departmentalized, or by individual - to name just a few.  The key to an efficient integrated solution is to ensure that the system works the way you work.  LSS has the flexibility necessary to meet the accounting needs of nearly any law firm.

Virtually Unlimited Capacity
The LSS General Ledger maintains up to 99 years of complete transactional history on-line at all times.  Firms have the option of locking prior accounting periods so that no new information can be posted, while still allowing for reporting and other financial analysis.


Automatic Reversals
When voiding a transaction, simply identify the cash account and check number, and LSS automatically generates entries to completely reverse and void the transaction.  Everything is updated for you automatically - client accounts, billing information, vendors, 1099's, check reconciliation, management reports, histories, etc.  A complete audit trail is maintained, and LSS gives the user a chance to preview the reversal before it's actually posted. 

Reporting
LSS offers standard and user-defined financial reporting and budgeting at the firm, office, department and individual level.  And the integration with time accounting can be defined with specialized cash application methods so that payments are automatically allocated they way you want them to be.  Reports can be printed, displayed on screen, archived electronically, emailed to someone else, or converted to other popular applications like Word, Excel or Adobe PDF. 

Control
LSS includes sophisticated and flexible security options so that only authorized users can access the general ledger system.  The system maintains a detailed history of every transaction to produce clear and concise audit reports.  For additional control, every report is archived electronically and accessible on-line for future reference.  There are even control reports that reconcile account balances from general ledger to the client balances in the billing system.

More Information
Visit our Software Details page for information about other LSS Financial Management features.  more >>

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