Why Is Legal Accounting Software an Ideal Choice for Law Firms?

If you need practice management, Financial Director (FD) legal accounting software goes above and beyond all the requirements set down in the solicitor’s accounts rules. It really is a one-stop solution for all your accounting needs, and the software comes highly recommended for auditing purposes by accountants, and by the LAA for publicly funded work. DPS’ Legal accounting software has been developed over many years, to provide law firms with an easy way to keep records and file their annual accounts. 

What makes Financial Director so efficient is the way it can integrate completely with the needs of the practice and offer solutions to the most complex work. It is also fully connected to the case management software we have developed. We offer different versions depending on the size of the practice. The software’s excellent reputation is built on the fact that it can cater for all types of legal businesses, and it is that level of uniqueness, combined with the total professionalism you would expect with such high-profile software, that has enabled it to forge ahead of the competition.

Financial Director offers fully automated reporting and is fully equipped to deal with the standard reports encountered every day in practices all over the country. These reports look at Key Performance Indicators, and at specific areas of legal work such as LAA criminal contract billing, which can be sent via email as fully automated reports if required.

Financial director also offers open period accounting and can have up to 24 periods open at any one time to cover the current and previous financial years. Through your bank you can also download and store electronic statements. The legal accounting software will also compare all the electronic statements, ticking off items that have been settled or completed. This system also has a user defined interest calculator which calculates account interest in accordance with SRA rules, and it can do this for any number of client accounts.

Financial Director is a market-leading software package which includes many other features such as: automatic online bill submission for CDS Billing, fee earner desktop inside MS Outlook, flexible ledger card, flexible and automated time recording, automated chart of accounts & management Reporting, cheque printing and remittance advice, and user-defined security.

Comments

  1. laurajackson7 April 2025 at 22:18

    The Financial Director software seems like a solid choice for law firms with its automated features and integration with case management. However, it could be overwhelming for smaller firms with simpler needs due to its extensive functionalities. Still, it stands out as the best legal accounting software for larger practices.

    ReplyDelete

Post a Comment

Popular posts from this blog

Legal Billing Software Can Make A Big Difference For Small Firms

Image
Every law firm wants to operate with maximum efficiency and spend as much time as possible working on billable hours, not on back office work such as drafting bills. This is essentially the case for small firms who don't have enough work to employ an accounts department, and therefore it falls to fee earners to do it themselves. Yet it has to be done, and the sooner it is done, the faster the turn-around time of cash coming through the door. Legalbilling software for small firms can make all the difference. Back in the day, lawyers had no choice other than to prepare their own bills, but it is a time-consuming and tedious business. Now legal billing software for small firms has made life so much easier because it can be done by a computer instead. One of the advantages of legal billing software is that you can create client and contact lists that make it simple to keep track of time spent on individual clients and different tasks and raise a bill accordingly. Anot...
Read more

What to Consider When Choosing Legal Software

Image
The use of legal software in the cloud is becoming more popular almost by the day, and with good reason. Firstly it will save you a considerable amount of money over running everything in-house, and it has the advantage of allowing you access to all of your documents, , to send and receive emails, bill your time, and much more, from wherever you happen to be.  However, before you rush out and sign a contract for solicitors’ software there are several things to bear in mind. Not the least of these is the goals that you have for your firm. Obviously, you would like to increase profitability and this can be achieved by billing more hours. Many firms are finding that too much of their fee earners’ time is being spent on essential work that does not directly result in fees. So you need to consider what aspects of your fee earners’ time could be carried out by software thus allowing them to increase their billable hours.  A very good idea is to review all of...
Read more