Simplify your law firm’s accounting and billing
Trusted by 300+ law firms
Legal Accounting Software
Without time-consuming admin tasks, you can speed up the month-end processes and run a streamlined accounts department with ease. Our legal billing software allows you to centralise your accounts into one system, which reduces errors, improves productivity and provides the visibility you need to drive your firm forward.
SRA and HMRC compliance
With so much regulation to consider, you can rest assured that our integrated package provides a fully compliant framework for your law firm accounting. As experts in the industry, we know about all of the relevant rules and regulations, which is why our legal accounting software is completely SRA, HMRC compliant and supports VAT returns for MTD. Our software also allows you to limit access using our permissions system and retain management oversight with complete audit trails.
Full visibility of your finances
To be in control of your finances, law firms need visibility. With Osprey you’ll have a 360-degree view of your client and office accounts, with side-by-side client ledger postings and support for as many bank accounts as you need. You can also manage your business finances, using the nominal ledger for all your law firms’ outgoings, invoices and receipts.
With full integration to the entire practice management solution, you’ll have access to everything you need in one central platform. Process payments quicker and get paid faster with your legal accounts accessible from anywhere at any time.
Speed up bank reconciliations
Reconcile your bank statements with a simple click. You remain in control to make any amendments before completing.
Cross-reference and tick transactions manually or import your statement and have them automatically matched. Our accounting software allows you to adapt to whatever is most convenient for you.
Comprehensive reporting suite
Extensive built-in financial and management reports provide the information you need to run your law firm effectively. You can view reports within Osprey, or export to a file format that suits you. Accurate reports allow for data-driven business decisions that can ensure you’re progressing your firm in the right direction and making improvements to better profitability as you go.
In addition to intelligent business reporting, Osprey provides several auditing functions to ensure financial transparency and accountability.
Business and client financial reports:
- Profit & Loss
- Balance Sheet
- VAT Returns
- Aged Debtors
- Unpaid Bills
- Cost Transfers
- Client Funds Movements and more
Key Legal Accounting Software Features
Osprey is fully SRA compliant to ensure we’re making your accounting processes as simple and ad stress-free as possible.
Successfully submit your VAT returns digitally into the HMRC MTD gateway with Osprey.
Stay in control of your finances with auditing functionality that provides you with transparency and peace of mind.
Choose from our suite of intelligent reporting templates and options or build your own so you can be in control of your firm and its future success.
Increase security on your accounts with restricted access and configurable permissions.
Frequently Asked Questions
- What is legal accounting software?
Legal accounting software is a digital solution for managing a law firm’s finances including billing and invoicing clients. A specialised accounting software for legal professionals will enable you to effectively manage both your office and client accounts, be SRA complaint, connected to HMRC for MTD, manage disbursements, bank reconciliations and offer financial reporting. Osprey Approach is an end-to-end practice and case management solution that includes a fully integrated, specialised legal accounting software so you can be confident your finances are streamlined and accurate.
- Why should I use legal accounting software?
Law firms should use legal accounting software because it provides them with the correct tools to effectively manage their business and client accounts, ensuring they stay complaint. There are a variety of accounting software solutions on the market but typically they’re not created for law firms or specialise in legal accounting. Therefore, these products may not handle or consider the more complex needs of law firms and the regulations and compliance requirements you need to follow. This is why we recommend law firms choose a solution that is designed for law firms and is fully integrated with a practice management solution.
- Is Osprey SRA and HMRC compliant?
Osprey provides firms of all sizes with the features and functionality to successfully meet SRA requirements and best practices which will help firms become SRA compliant. You can find out more about the compliance features, functionality and workflows here. Osprey is also an approved MTD software supplier which ensures you can digitally submit your VAT returns through Osprey in the HMRC MTD portal.
- Do you provide business and client financial reports?
Osprey Approach includes a variety of reports for both business and client financials, including other various firm-wide reports which provides firm’s with a 360-degree visibility of their performance. Osprey also includes the report writer tool so you’re able to build your own reports using the data you hold in Osprey. For further insight and advanced reporting we also provide business intelligence tools that enable you to create interactive and intuitive dashboards that are configurable and customisable to your firm’s needs.
- Do you integrate with QuickBooks or Xero?
Osprey Approach is a complete, end-to-end practice management solution that includes everything you need to effectively manage your firm, clients, cases and finances. Osprey includes fully integrated legal accounting software which means you don’t need to purchase additional accounting software to use with Osprey Approach. This is why we don’t integrate with other accounting packages because the features within Osprey are designed specifically for law firms, are SRA compliant and have everything you need to manage your business and client accounts.
See Osprey in action
Discover the power of Osprey Approach in a free, no obligation demonstration, and learn why thousands of lawyers trust our software solution to manage their firm. Complete the form and a member of our sales team will be in touch to find out more about your firm’s needs and to book a meeting at a time that suits you.