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Legal Accounts Software

  • Legal Accounts Software

Legal Accounts Software For Law Firms

SRA compliant, fully integrated & secure

LAWFUSION is designed to make life easier for everyone in a law firm – and is popular with fee earners, cashiers and support staff alike. The legal accounting areas of the software are no exception.  Of course fully integrated with all other LAWFUSION modules, the legal accounts side of the system provides reliable information for confident business decision-making and offers an abundance of time-saving and accuracy-enhancing features. Fully compliant with the solicitors accounts rules the LAWFUSION legal accounts package is regularly updated in line with current legislation. The software is flexible, customisable and secure.

As well as being fully integrated with all the other areas of LAWFUSION, i.e. time recording, case management and costs management etc. there are also sophisticated levels of robust, third-party integration with the Microsoft Office Suite.

LAWFUSION is designed specifically for solicitors. It is business-led and highly intuitive. All its features come as standard from day one, providing an opportunity for law firms to grow with the system.

Select Legal Systems, authors of LAWFUSION, who are ISO 27001 certified at both company level and also datacentre level are continually enhancing the product in line with market factors.  For instance, they are ahead of the game with adding new functionality for ‘Making Tax Digital‘ which will enable law firms to submit VAT returns straight to HMRC online via LAWFUSION for the April 2019 deadline, they have added a GDPR Module to help law firms comply with this important data protection legislation and are constantly working with the LAA to ensure LAWFUSION is providing everything a legal aid firm would need.

Close up black and white image of keys on keyboard, one key is coloured red with "£" (pound) symbol

Key Features

Fee Earner Billing

All firms bill differently and LAWFUSION will allow you to customise your legal bill procedures to suit the way you prefer to work. Some firms prefer their fee earners to bill their own work, others leave it to cashiering. With LAWFUSION the choice is yours. Your billing processes can be triggered manually, or you can pre-set conditions to drive billing. For example the software can be configured to bill once the WIP (work in progress) total reaches a certain limit. Similarly bills can be triggered according to disbursement levels or lockup/unpaid invoices totals etc. and the software provides automatic billing and specialist, comprehensive legal aid billing for crime and family work too. Billing templates can be set-up to follow your firms’ corporate style, billing guides and time reports can be produced and used as the basis for billing.  Multiple Fee Earner apportionment options are available including automatically apportioning fees based on time booked. Disbursements not yet incurred can also be added into the bill.

Management Reporting

LAWFUSION Accounts comes with 100+ standard reports as well as a powerful report writer which can be pointed at any area of the system for all your ad-hoc reporting needs. All reports can be exported in to Excel and PDF formats.  Report layout can be tailored to your exact requirements in terms of content, grouping, sequence etc. Any number of conditions can be used for each report e.g. WIP greater than £100, client balance greater than office balance – and you can set up reports to compare conditions like these. Reports can be grouped and ordered in different ways e.g. group by fee earner, order by account reference etc. Once created a report can be saved in the report library and re-run at any time. Reports can be set to run automatically overnight, generating pie charts, graphs and interactive tables which can be distributed by email to relevant team members.

LAWFUSION also offers a number of key performance indicator monitoring reports too.

Legal Aid Accounting

LAWFUSION is very strong on Legal Aid functionality right across the board. All Legal Aid claims, which have fees and disbursements agreed, are instantly billed through the system and all bills are paid from a pre-configured Legal Aid account on the system of your choosing. Within LAWFUSION fees can be allocated to the P&L based on Fee Earners or type of work. Legal aid profitability reports are available enabling firms to accurately monitor their legal aid business.

Cash Flow / Debt Management

Cash is king for any growing law firm LAWFUSION is designed to help you keep control of the time lag between ‘paying out’ to your third parties and ‘collecting fees’ from your clients. A configurable cash flow report comes as standard with LAWFUSION and the system offers a number of debt collection tools to ensure you collect your money as quickly as possible. E.g. flexible aged debtor reports, debt reminders module, client statements, telephone-based debt collections procedures you can follow, with debt diary and follow up actions.

Client Ledger

LAWFUSION Accounts contains a dedicated client ledger for holding client accounting information. This is divided into client, deposit, disbursement, office and in-house expense ledgers for each matter/case. If required, the disbursement ledger can be combined with the office ledger.

All of the standard posting types are available and include payments, receipts, invoices, credit notes, journals, write-offs and in-house expenses.

Professional Nominal Ledger

LAWFUSION provides a full commercial, multi-level nominal ledger. Two sets of budgets are available for each nominal account (such as projected, worst / best case) for comparison of nominal balances against budgets or previous years’ actual figures. Budgets can be set up quickly and easily by specifying a percentage split, or user-defined calculations, i.e. seasonal. All of the standard posting types are available and include payments, receipts, journals, write-offs, batch journals, recurring journals and reversing journals. Year end journals provide a quick and easy method of clearing down the revenue and expense accounts. Standard reports such as Balance Sheet, Profit and Loss and Trial Balance are available.

Purchase Ledger

The LAWFUSION purchase ledger integrates to both the nominal and disbursement ledgers and also provides for the posting of counsel fees. All of the standard posting types are available – i.e. bills, credit notes, payments, receipts, journals and write-offs. Bills and credit notes can be split to multiple nominal and/or disbursement ledgers. Standard reports such as ‘Aged Creditors’ and ‘Cash Required’ are available so you can quickly and easily see what you owe and to whom.

VAT Ledger

LAWFUSION Accounts contains a full VAT ledger system for completing the VAT 100 form and provides a full VAT audit trail. The VAT Ledger can be configured for either cash or bills delivered VAT accounting.

Ahead of time, Team LAWFUSION is currently (Sept 2018) testing and finalising its ‘Making Tax Digital’ functionality re VAT submissions and working closely with HMRC on building in robust anti-fraud mechanisms for utmost security. Law firms will be able to file their VAT returns straight to HMRC via LAWFUSION in time for the April 2019 deadline.

Cash Book

LAWFUSION supports the numerous bank accounts a law firm might need – i.e. client, office, petty cash etc. with user friendly bank reconciliation facilities. Bank reconciliation reports and cash book reports are provided as standard and these can be produced historically if required. Of course the production of a monthly bank reconciliation statement in line with the Solicitors Accounts Rules is quick and easy in LAWFUSION.  Standing orders and direct debits can be set-up to post automatically when due.  Law firms can upload their list of daily BACS transactions to the bank for payment or they can design their own cheque layout and can print cheques if required , singly or in batches.

Bank Reconciliation

LAWFUSION provides automatic bank reconciliation so you can compare your accounting records with your bank statement.

E-Chitty Posting Requests

Fee earners can issue requests to the accounts team for payments or incoming funds by saving an e-chitty into the case document tray in LAWFUSION.

Deposit Interest Calculator

LAWFUSION users do not need to keep separate deposit accounts because all monies can be held in one high interest bearing account and any deposit interest due to clients is calculated by the system as per Law Society Rules.  Calculations can be produced on a single matter, all matters for a specific client, or across the entire client ledger. The system caters for multiple interest rate tables and any number of rate changes. Use of a clearance period table for different transaction types ensures calculations are applied to cleared balances only. The interest can be automatically posted to the account ledger if required. It will also post the appropriate inter-bank transfer for you. Reports showing  all interest calculations are available for audit and verification purposes and a tax file can be produced for reporting high interest client accounts to the Inland Revenue.

The interest calculator can also be pointed at the debtors’ ledger to automate interest charges on outstanding bills. It will automatically post the appropriate interest to the bill and to your nominal ledger. The interest calculator also allows the entry of manual transactions for ad-hoc calculations.

Anti-Money Laundering Compliance

LAWFUSION allows you to write your own anti-money laundering procedures as a workflow chart, making sure you follow best practice and satisfy the necessary due diligence. However, as standard, within the software law firms get a whole raft of AML functionality.  For example the software:

  • warns you if you accept funds and the anti-money laundering checks have not been completed for the client.
  • warns you if you accept funds over a certain value.
  • reminds you if your anti-money laundering checks are out of date.
  • reminds you if the anti-money laundering checks are incomplete.
  • allows you to enter the checks done and also to scan in documents, papers, etc.
  • optionally, integrates to external identity checking and KYC services such as Call ML and the 192.com service.
  • produces a “suspicion letter” to the Anti-Money Laundering Officer (AMO) in your firm.
  • optionally, passes on your suspicions to The Serious Organised Crime Agency (SOCA).

Requisitions & Remittances

To maximise cash flow and improve the management of outgoing payments, LAWFUSION provides a comprehensive requisitions and remittance facility. The Purchase ledger has a BACs export facility which allows an upload to your  bank  saving manual entry or sending out cheques. Remittance advices can also be produced via the purchase ledger and distributed electronically, or printed.

On the Client ledger, requisitions can be raised and sent electronically to cashiers, who can check and post them instantly to the ledger. Printed cheques are available if required. This can significantly speed up the payment process and reduce posting errors.

  • Office and client account payments can be requested from multiple locations, against multiple matters.
  • Each payment has a notional cleared date and a cleared funds check is performed on client payment requests. An undertakings check is also performed on client payments.
  • When payments are reconciled, the reconciled date and sheet number shows on the ledger.
  • Additional information such as file/case/matter numbers and fee earner details can be included with the cheque payment.
  • Cheques, which are totally configurable with different layouts for different banks, can be produced in batches or singly, and printed via dot matrix or laser printers.

Expenses / Disbursements

When a fee earner claims an expense, such as mileage or car parking it can be immediately available for billing as a disbursement if appropriate, or for submitting to the LAA (for a legal aid claim) and also for analysis and reporting. As the expense is entered it becomes part of an expense claim that is submitted for approval (where necessary) without any duplication of effort. Acceptance / rejection of the expense claim is instantly visible to the fee earner on screen (and a paper form can be produced if required). The Fee Earner ticks a box to indicate he/she has a receipt for the item (and for those striving for a paperless office receipts can be scanned in and attached to the expense claim.)  The system handles different rates for mileage e.g. if a Fee Earner is paid mileage at 25p per mile, but the firm has agreed mileage will be charged out at 40p per mile to the client – the system picks up the relevant rates and bills the client at the correct rate, and pays the fee earner accordingly. The software also handles the public and private mileage rates required for LAA work. A single payment is made to the fee earner for aggregated expenses claims. LAWFUSION also manages the recharging internal expenses such as photocopying and faxing, etc.

KPI Monitoring

Many law firms use Key Performance Indicators (KPIs) to monitor how well the business is doing.  KPIs are quantifiable measures that help the partners and leaders of a firm evaluate the success of their teams in meeting the objectives that have been set for their performance.  LAWFUSION provides some key business intelligence, through KPI Monitoring Reports for this purpose.

Read More>

Making Tax Digital

Select Legal Systems is a recognised ‘Making Tax Digital’ VAT Software Supplier and its law firm users will be able to post VAT returns digitally direct from LAWFUSION in line with the April 2019 deadline.

Read more:

> LAWFUSION – Making Tax Digital

> LAWFUSION MTD Functionality Recognised By HMRC 

> Stop! Is Your Software Supplier Ready for MTD?

> Making Tax Digital For Law Firms

Case Studies / Relevant News

Video Case Study

One of the UK’s largest providers of Legal Aid

“With the introduction of LAWFUSION and its billing wizards our fee earners are now able to bill their own work and it’s been great because they take more commercial responsibility for their work.”

Rupert Hawke, Managing Director, Cartwright King

More info

Video Case Study

Specialists in Family Law

With LAWFUSION our legal aid billing is taking 60% less time.”

Glyn Abba, Finance Manager, Family Law Group

More info

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Select Legal Systems  @select_legal
What users are saying about LAWFUSION's new MTD functionality for law firms:　 https://t.co/plChJAxzbR 
Feb 25 reply retweet favorite 1 week ago
Select Legal Systems  @select_legal
Law firms are now submitting VAT returns direct to from LAWFUSION to HMRC digitally on a daily basis & we have publ… https://t.co/4iQQmpemsH 
Feb 18 reply retweet favorite 2 weeks ago
Select Legal Systems  @select_legal
For law firms looking for new legal practice management software in 2019 - make sure you check out the cyber securi… https://t.co/QlyGhAO9VY 
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