General Ledger

• The General Ledger is a full feature, interactive accounting system designed to facilitate double-entry accounting, Chart of Accounts format and reporting, prior period storage and comparison reporting, budgeting, transaction balancing, financial statement and Balance Sheet reporting.
• LegalPac is GST ready
• Preset or user defined Chart of Account is made easy for computerised system
• G/L Account structures by branch, main code and sub-code
• Self-balancing double entry concept
• Full audit trail reports produced
• Allows prior period adjustments
• Transaction may be accumulated for the whole financial year or purge monthly
• Previous year’s balances retained in full to facilitate this-year last-year comparison
• Monthly and year-to-date budget comparison
• Integrated with the Billing module to produce analysis of fees by type of income, income & expenditure statement by type of disbursement
• Bank reconciliation facilities to avoid discrepancy and unauthorised withdrawal
• Fully automatic posting from the Client Ledger and Billing modules provides a complete audit trail of all legal firm’s accounting activities
• Some of the useful queries/reports:
  • Chart of Account print
  • General Ledger listing
  • Bank account and balance query
  • GL reports including Trial Balance, Balance Sheet and Profit & Loss Statement
  • Actual versus budget comparison
  • Powerful report generator for user defined financial statements