Purchase Ledger for Lawyers

An accurate record of your law firm's purchases

Part of our industry-leading legal accounting software, Lawsyst’s purchase ledger simplifies your bookkeeping processes and helps your law firm adhere to regulatory requirements

Access supplier transactions from anywhere

Gone are the days of managing accounts payable with pen and paper. Lawsyst’s easy-to-use online purchase ledger provides a complete overview of your supplier transactions from any device or location, allowing you to manage purchase invoices, credit notes and payments in just a few clicks.

Never miss a payment

With an up-to-date log of money owed, our intuitive purchase ledger gives you complete control over when and how you make payments. You’ll have a clear view of outstanding balances and invoice due dates, empowering you to make timely payments that align with your supplier agreements. Lawsyst will help ensure that your suppliers receive funds as requested and that you firm doesn't fall foul of late fees.

Manage cash flow

Lawsyst helps you look after your firm’s financial health by providing real-time visibility into company spending. Those responsible for your accounting processes can monitor cash flow, track outstanding invoices and assess financial trends. Whether you're managing operating costs or planning future expenses, we've got the tools you need to help your practice make informed financial decisions.

Seamless integration with Xero

Lawsyst integrates effortlessly with Xero, allowing law firms to manage finances from either platform. With this useful integration, you can view and update your accounts payable, monitor your practice's financial data and reconcile your books without the hassle of switching between systems. Smooth, continuous management of your firm's finances is guaranteed at every turn with Lawsyst.

Guaranteed productivity and compliance

Lawsyst’s digital purchase ledger has been specifically developed to help law firms operate more efficiently by simplifying and automating routine financial tasks. It provides everything you need to stay complaint with the SRA's regulatory requirements, and ensures that you maintain accurate records while focusing your efforts on delivering the best outcomes for your clients.

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Why UK law firms use our purchase ledger software

Better financial management

Lawsyst offers a secure centralised platform from which to manage all your law firm’s supplier transactions. By bringing invoices, payments, and supplier details into one place, you can easily track and manage your financial interactions and gain a comprehensive overview of your finances at all times.

Advanced security

Lawsyst provides your law firm with the highest level of security, ensuring that sensitive financial data is protected at all times. Our fully integrated software offers robust security measures, including data encryption, secure access controls, and automatic backups, to safeguard your firm’s finances from unauthorised access. With Lawsyst's purchase ledger software, you can rest easy knowing that all of your transactions and records are stored securely and that only authorised personnel can access your financial information.

Increased efficiency

Lawsyst helps you run your law firm more efficiently by automating and streamlining essential financial tasks. With our online purchase ledger, you can easily monitor cash flow, track outstanding payments, and ensure that all invoices are paid on time, keeping your firm’s operations running smoothly and strengthening your relationships with suppliers and vendors.

Information available at any time

Lawsyst provides a secure and centralised repository for everything related to your accounts payable, making it easy for your firm's accounting team to access key financial records whenever needed. Whether it’s invoices, payment receipts, or supplier contracts, all relevant documents can be stored in one secure location, eliminating the need for physical files or time-consuming searches.

Frequently Asked Questions

What is purchase ledger software?

Purchase ledger software helps law firms manage accounts payable, track expenses, and record purchases. It gives legal professionals the tools to organise vendor invoices, manage payments, and ensure accurate financial reporting.

How can purchase ledger software benefit my law firm?

Purchase ledger software helps lawyers streamline the management of purchases and supplier invoices, reducing the risk of errors and ensuring timely payments. It also helps with audit trails and compliance with financial regulations.

How does your purchase ledger software integrate with other accounting systems?

Lawsyst’s purchase ledger software integrates with its general ledger, bank reconciliation, and invoicing systems, providing you with an accurate financial picture of your firm.

Can I automate payments with your purchase ledger software?

Yes, our purchase ledger software allows you to automate supplier payments based on predefined schedules or payment terms, reducing administrative burden and ensuring timely payments.

Can your software help with tracking VAT for my law firm’s purchases?

Yes. Lawsyst allows you to track VAT on purchases, ensuring compliance with tax regulations and allowing for accurate reporting during VAT submissions.

How does your purchase ledger software handle multiple suppliers?

Our software allows you to maintain a detailed record of each supplier’s transactions, including invoices, payment terms, and contact details, and manage them separately or in consolidated reports.

Can I record and manage recurring expenses in the purchase ledger?

Yes, you can set up recurring expenses, such as rent, utilities, and subscriptions, to be automatically recorded in your purchase ledger, ensuring consistent tracking and reducing the chance of missing regular payments.

Can your software generate supplier statements or reports?

Yes, you can generate detailed supplier statements, including outstanding balances, overdue payments, and purchase history, helping you to maintain accurate financial records and keep supplier relationships in check.

Does your purchase ledger software support multi-currency transactions?

Yes, our online purchase ledger supports multi-currency transactions, allowing law firms to handle international suppliers or clients and automatically manage currency conversion and exchange rates.

How secure is the data in your purchase ledger software?

Our purchase ledger software uses robust encryption and security protocols to protect sensitive financial information, ensuring that only authorised personnel can access and modify the data.

Can your purchase ledger software help with budgeting and cost control?

Yes, Lawsyst allows you to set budget limits for different departments or expense categories. Our purchase ledger software can help you monitor actual vs. budgeted purchases to keep spending under control.

Can I track payments for bills that have been partially paid or are overdue?

Yes, our software allows you to track partial payments, overdue bills, and due dates, ensuring you stay on top of your payments and avoid late fees.

Can your purchase ledger software handle different payment terms with suppliers?

Yes, Lawsyst allows you to define and manage different payment terms with various suppliers, whatever your payment terms, and ensure timely payments are made in compliance with those terms.

Is your purchase ledger software suitable for managing legal-specific expenses?

Yes. Whether you’re paying for court filing fees, expert witness services, or legal research subscriptions, our purchase ledger software can be tailored to suit the unique purchasing needs of your law firm.

Does your software provide a full audit trail for purchase transactions?

Yes, our online purchase ledger maintains a complete audit trail of all transactions, including invoice entries, payments made, and any changes or adjustments, ensuring full transparency and compliance during audits.

How can I access my purchase ledger data remotely or on the go?

Our cloud-based purchase ledger software allows you to access your data remotely from any device with an internet connection, making it easier for team members to manage purchases and approvals from anywhere.

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

Purchase ledger for law firms