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OneAdvanced Legal AccountsOneAdvanced

OneAdvanced Legal’s Legal Accounts capability simplifies finance, billing, and compliance to help UK law firms improve efficiency, maintain compliance, and enhance financial control.

Vendor

Vendor

OneAdvanced

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Product details

Key features

  • Live action dashboards
  • Ledgers & postings
  • Interest calculations
  • Bank reconciliation
  • Reporting
  • Purchase ledger
  • Nominal postings & recurring transactions
  • VAT enquiry and Business Tax Portal

How we will benefit your business

Revenue stability and financial planning OneAdvanced Legal provides real-time insights through live action dashboards, allowing finance teams to monitor cash flow closely and make informed financial forecasts. Built-in compliance and risk management Seamlessly integrates SRA and HMRC compliance, using comprehensive reporting tools to ensure financial activities meet legal standards. Clear, accurate records support audits, reduce non-compliance risks, and safeguard the firm’s reputation and financial stability. Efficient billing and revenue recovery Streamlines billing for efficient revenue recovery by automating billing schedules, handling unbilled disbursements, reducing admin work, speeding up invoicing, and converting earned revenue into cash, while interest calculations across multiple matters further optimise revenue management.

Features and benefits

Automated compliance

Help your teams remove the barriers of time and place OneAdvanced Legal is designed to adhere to both Solicitors Regulation Authority (SRA) and HMRC accounts rules, with built-in features such as client account management, automated reconciliations, and detailed audit trails. Additionally, it offers a full suite of pre-configured reports like aged debts, balance sheets, and trial balances for end-of-month and year-end positions.

Realtime insightful dashboards

We help you overcome the risks OneAdvanced Legal provides finance teams with interactive, real-time dashboards and financial summaries for each client matter, offering instant access to key metrics like balances, work in progress, outstanding bills, and disbursements. The platform enables quick viewing of department-level data and a comprehensive overview of each client matter—all without the need for additional searches.

Efficient billing automation

Achieve more, in less time OneAdvanced Legal provides finance professionals the tools to automate billing processes, including the allocation of unbilled disbursements and creation of billing schedules based on fixed fees, set amounts, or custom limits.

Seamless tax compliance

Prepare VAT submissions The VAT inquiry feature includes a nine-box VAT return and integrates with the HMRC Business Tax Portal, which provides everything finance teams need to prepare VAT submissions seamlessly and efficiently.

Comprehensive reconciliation

Transform the way you work OneAdvanced Legal provides a three-way bank reconciliation feature to give finance teams an easy to read overview. With separate views for cleared and uncleared items, a searchable transaction list, and an automatically saved audit report, allowing for seamless auditing and timely financial reporting.