What types of financial reports can I generate with Lawsyst?
You can generate various reports, including income statements, balance sheets, cash flow statements, and more. You can also create custom reports based on your law firm’s specific needs.
Are financial reports customisable in Lawsyst?
Yes, Lawsyst offers customisable templates that allow you to tailor your financial reports according to your practice's needs and requirements.
How often can I generate financial reports?
You can generate financial reports as frequently as you need, whether it’s monthly, quarterly, or annually. Real-time data updates ensure your reports reflect the most current information.
Can I generate financial reports for individual clients or cases?
Yes, Lawsyst allows you to generate reports specific to individual clients, matters, or trust accounts, which is particularly useful for law firms managing client funds.
Is there a report for profit and loss (P&L) tracking?
Yes, you can easily generate profit and loss statements to track your income, expenses, and profitability over a defined period.
Can I generate audit-ready financial reports with Lawsyst?
Yes, Lawsyst generates well-organised financial reports that are ready for audits, ensuring that all transactions are properly documented and compliant.
Can I generate reports in different currencies?
Yes, if your firm deals with international clients, Lawsyst supports multi-currency financial reports that automatically convert amounts using up-to-date exchange rates.
How do I ensure that my financial reports are accurate?
Lawsyst uses real-time syncing with your bank feeds and accounting records, ensuring that your financial reports are always accurate and up to date.
Can I create a budget report in Lawsyst?
Yes, Lawsyst allows you to track budgets against actual income and expenses, helping you monitor financial performance and adjust strategies as needed.
What is the difference between an income statement and a balance sheet?
An income statement shows your law firm’s revenues and expenses over a period of time, while a balance sheet provides a snapshot of its assets, liabilities, and equity.
Can I export my financial reports to other formats like Excel or PDF?
Yes, Lawsyst allows you to export financial reports to various formats such as PDF, Excel, or CSV, for easy sharing, printing, or further analysis.
Can I track historical financial data with Lawsyst?
Yes, you can access historical data to track your firm's financial performance over time and identify trends for forecasting and planning.
Does Lawsyst offer financial forecasting features?
Yes, using historical financial data, you can generate financial forecasts to help with future planning and cash flow management.
Can I generate cash flow statements in Lawsyst?
Yes, Lawsyst allows you to create cash flow statements that track the inflow and outflow of cash within your legal practice, helping you manage liquidity.
Can I view financial reports in real-time?
Yes, Lawsyst provides a real-time dashboard that visualises key financial metrics and allows you to track your financial data as it changes.
How secure is the financial data in Lawsyst?
Lawsyst uses advanced encryption and security protocols to ensure that your financial data is protected against unauthorised access and data breaches.
Can I track financial reports for multiple entities or law firms?
Yes, Lawsyst supports multi-entity reporting, making it easy to track and generate financial reports for multiple branches in one system.