Group accounting for law firms made easy
Lawsyst makes it simpler for your law firm to manage the finances of multiple branches. Whether you have different practice groups, offices, or departments, we can ensure that each entity's financials remain separate while allowing for smooth cross-entity transactions and allocations. Lawsyst simplifies the management of intercompany financial data, such as shared expenses or internal transfers, and centralises these processes, helping you save time and avoid the complications of managing separate systems.
With Lawsyst, generating consolidated financial reports across your firm's multiple entities is easy. This gives stakeholders and decision-makers the chance to see the big picture at a glance, without needing to dig through individual entity reports. Where necessary, Lawsyst allows you to create entity-specific reports for each department or practice group, providing a deeper dive into each unit’s performance and helping you assess their financial health.
Lawsyst gives you the ability to create group-wide budgets, providing a strategic financial plan at the top level. At the same time, individual branches or departments can manage their own financial plans and budgets, offering a balanced approach to financial management. This flexibility allows you to track overall financial performance while empowering each office or branch to manage its own resources. Lawsyst also ensures that every financial report produced is audit-ready, consolidating data across entities for easy review during internal audits or external regulatory checks.
Key features of Lawsyst's group accounting software for lawyers |
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Group accounting allows law firms with multiple entities, branches, or practice areas to manage their finances in a consolidated system. It provides both entity-specific and consolidated financial reporting, simplifying financial management for multi-office or multi-practice firms.
Group accounting software helps law firms track finances for different entities separately while consolidating them for a complete financial overview. This simplifies reporting, ensures compliance, and allows for the efficient management of multiple departments or branches.
Yes, Lawsyst enables you to manage multiple trust accounts across different entities or practice areas, ensuring compliance with legal regulations for each client fund and consolidating data into a single view.
Yes, you can create customised reports for each department, practice area, or branch to get detailed insights into their financial performance.
Yes, Lawsyst allows you to generate consolidated financial reports that combine data from all your law firm's entities, offering a comprehensive view of your practice's financial status.
Yes, Lawsyst allows for the easy management of intercompany transactions and ensures proper allocations between departments or entities.
For law firms operating in multiple countries or currencies, Lawsyst supports multi-currency group accounting. It automatically converts currencies using real-time exchange rates and consolidates accounts across different currencies.
Yes, Lawsyst allows you to create individual budgets for each department or office while maintaining a group-level financial overview.
Yes, Lawsyst is ideal for law firms with international offices, allowing you to manage financials across different countries, handle multi-currency transactions, and ensure compliance with local regulations.
You can monitor group-level financial performance through consolidated reports that aggregate financial data from all entities, providing a clear picture of your firm’s overall health.
Yes, Lawsyst allows you to track financials for different practice areas or departments separately, while providing a unified reporting view across the firm.
Lawsyst provides detailed, transparent financial reports that are organised and ready for audits, making it easier to track and verify transactions across entities.
Yes, Lawsyst integrates with your bank feeds and automatically reconciles financial data across your firm, ensuring accuracy in your reports.
Yes, Lawsyst allows you to generate consolidated balance sheets and P&L statements that reflect the financial status of your entire firm.
Yes, with Lawsyst, you can allocate shared overhead costs (such as rent, utilities, or administrative expenses) across different departments or offices as needed.
Lawsyst allows you to set up specific tax rules and reporting standards for different jurisdictions, ensuring compliance and accurate financial reporting for each entity.
Yes, Lawsyst is designed to handle multiple entities seamlessly. You can view financial data for all departments, practice areas, or offices from one central platform, making group accounting easier to manage.
If there’s anything we haven’t covered here or you have any specific questions about your account, just let us know and we’ll be happy to answer them. If you’re not a customer yet but curious about our plans, contact us
