Trust Accounting

The Trust Accounting system exceeds all Bar Association requirements and safeguards your firm from inadvertently "overdrawing" their Trust account or a Trust Matter.  AbacusLaw Gold - BackOffice accounting tracks all trust activity, from deposits to printing checks, with detailed on-screen or printed reports. Integrated with the Time & Billing, the Trust Accounting module makes it easy to maintain a complete set of records for your clients.

Trust Accounting Features

• Detailed Trust Ledgers
• Integrated Check Writer
• Multiple Trust Checking Accounts
• Check Reconciliation
• Multiple Matters on one Trust Check
• Detailed Trust Reports
• Interest distribution for interest bearing accounts
• Quicken Check Format
• Bank recon ties to trust ledgers for balancing
• Apply Trust Monies directly to Bill automatically
• Fail-Safe Overdraft Protection
• Integrated with Time & Billing module
• Integrated with General Ledger module
• On-Screen Alpha Lookup
• Recap of Trust Transactions printed to the bill (if desired)
• Integrates with Real Estate Closing programs (Land Tech, DoubleTime, and Display Soft)
• * Ability to enter Trust Check Requests
• * Minimum Trust Retainer Bills

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Accounts Payable

Integrated with Time & Billing, this feature gives a law firm the ability to capture client advanced costs quickly and easily to multiple client ledgers as well as maintain a detailed aged payables file.  One data entry performs as many as five separate functions, thus eliminating time consuming duplication of record after record.

Features

• Unlimited Vendor Files
• Tracks Vendor Invoices
• 1099 & 1096 Form printing
• Time saving data entry memory
• Supports partial payments on invoices
• Multiple invoices on a single check
• Maintains Detailed Vendor Ledgers
• Automates Recurring Payables
• Multiple Checking Accounts
• Checkbook Reconciliation
• Aged Firm Payables Report
• Client Advanced Costs Payables Report
• Integrated with General Ledger module
  • Quicken Check Format
  • Protects against duplicate invoice payments
• Integrated with Time & Billing
  • Miscellaneous Vendor Code
  • Cash Requirement Report

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General Ledger

"Comprehensive", "easy to use", "flexible". These are just a few of the customer comments describing the AbacusLaw General Ledger system. The method of accounting can be either Cash or Accrual. The system is open-ended and does not require a "hard close" at the end of each month. The Chart of Accounts is totally defined by you. Recurring journal entries can be set up for automatic entry. Reports can be printed or displayed to the screen at any time.

General Ledger Features

• User defined Chart of Accounts
• GL Expense & Income tracking
• Recurring journal entries
• Customize your income statements!
• Income and Expense budgeting
• Retain details for closed years
• Easy journal entry reversals, with tracking
• Month end closing options
• Detail General Ledger Reports
• Void checks quickly & easily
• Comparative Income Statement
• GL Revenue report by attorney
• Trial Balance
• Balance Sheet
• Standard Income Statement
• GL detail by date or account
• Cash Flow Report

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Payroll Processing

Whether you have two employees or twenty-two employees, the Payroll feature will reduce what was once a tedious task to a simple process. Individual employee profiles are maintained with the ability to customize deductions and benefits. You have easy access to payroll tax tables to meet ever-changing tax reporting requirements. Calculations and deductions are automatically handled with pertinent pay information stored for future reference and reporting. Payroll integrate with your General Ledger, utilizing multiple account distributions.

Payroll Processing Features

• Prints 940 Unemployment Federal/State reports
• Supports 401K and Group insurance deductions
• Supports deduction types of taxable, non-taxable and annuity
• Tax tables are automatically updated each December by Abacus BackOffice
• Supports Fed withholding by employee
• Track employees vacation & sick time
• User defined deductions
• Accommodates bonus pay
• Maintains year-to-date and quarterly totals
• Maintains profiles for unlimited employees
• Prints checks automatically & manually
• Prints W-2 & W-3's
• Prints 941 Quarterly Tax Return reports
• Integrates with the Abacus General Ledger
• Supports 50 States
• Quicken Check Format

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Learn more about AbacusLaw Gold - BackOffice!

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