Financial Reporting

LSS generates up-to-the-minute financial reports at any time.  Because Time and Billing, General Ledger, Accounts Payable and Payroll are all fully-integrated, your financial reports will always be current.  A couple clicks of the mouse is all it takes to produce a Balance Sheet, Income Statement, Check Register, Budget Analysis and much more.

Information
Financial information is delivered on-demand, in real-time, and in a variety of formats.  On-screen "dashboard" inquiries provide instant access to a wide range of financial information about clients, matters, attorneys, vendors, invoices, checking accounts, and more.  Everything from summary statistics to full accounting detail is available with the click of a button.  Reports can be printed to paper, archived electronically, displayed on-screen, emailed to another user, or formatted for other popular applications like Word or Excel.

Customized Reporting
You don’t need to write complicated queries or hassle with a report writer.  And if you ever need a report that isn’t already provided, LSS will add it to the system for you.  For firms that wish to develop their own custom reports, financial data can also be accessed via ODBC compliant applications like Excel, Access, Crystal Reports, and others.

Auditing and Control
Because LSS is truly integrated, the system is able to provide self-auditing features that other systems can’t.  Built-in audit controls will confirm that client information from Time Accounting always agrees with account balances in General Ledger.  LSS eliminates the process of manually balancing accounting with billing.

Paperless Vendor Invoice Management
In much the same way that you can attach files to an email, LSS allows you to attach files to any workflow check request or accounts payable transaction.  If you scan a vendor invoice to a PDF file on your Windows desktop, you can attach that image directly to the check request or accounts payable entry.  Virtually any type of electronic file format is supported - PDF, Excel, Word and more.

Attached files are automatically linked to their respective vendor, invoice number, check number, and even to unbilled client expense records.  This means that you can instantly access the image of an original invoice directly from inquiries located throughout the system. 

LSS Financial Reporting Features:

     -  Real-time On-demand Reporting
     -  Cash, Modified Cash or Accrual
         Accounting
     -  Reporting by Account, Office,
         Department and/or Individual
     -  Trial Balance (two versions -
         Consolidated and Detail)
     -  Balance Sheet (two versions - General
         and Detail)
     -  Monthly and Yearly Income Statement
         (six versions)
     -  Individual Partner Income Statement
     -  Budgeting by Account, Office,
         Department and/or Individual
     -  Cash Requirements Reporting
     -  Historical Analysis (maintain up to 99
         years of transaction detail)
     -  Statement of Partner Equity
     -  Source and Use of Funds
     -  Auditing and Automatic Reconciliation
         with Client Balances
     -  Daily Operating Control

More Information:
Accounts Payable
Attendance
Calendar / Docket
Case Management
Case Notes
Conflict of Interest
Contact Management
Date Calculator
Document Management
Electronic Billing
Financial Reporting
Front Office
General Ledger
Management Reporting
Mass Mailing
Math of Finance
Outlook Integration
Payroll
Records Management
Time and Billing
Time Entry
Timekeeper Management
Trust Accounting
Workflow Management

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