Legal accounting software
Interactive
Interactive is an intuitive cloud based legal accounting system containing all the features your cashier needs to efficiently manage your finances according to the stringent demands of the SRA Accounts Rules, CLC Accounts Code or Scottish Accounts Rules, and adhere to MTD and AML legislation.
The sophisticated reporting capabilities are designed to provide your firm’s leadership team with the business performance insights necessary to take control of your financial status and undertake cash flow forecasts.
Choose Interactive legal accounting software for your law firm, sole practitioner practice or legal department and benefit from:-
- MTD accounting tools: Prepare and submit VAT returns to HMRC using our MTD for VAT-compatible software
- Distinct client and office ledgers: Access client and office ledgers after creation of a new matter with an easy-to-use interface specifically designed for secretaries, fee earners, partners and business owners
- Scottish law firms: Clear identification and management of the surplus or float account is available within our accounting software platform
- Electronic posting slips: Easily create e-chits for disbursements, bills, office, client, deposit and other monetary transactions, both inbound and outbound
- Auto-populated e-chit content: Set up standard payees, narratives, disbursement and expense types then activate drop-down selections in key data fields for time saving and expense tracking advantages
- Billing support: Utilise invoice templates and automatically calculate fees due using complicated pay rates for easy document assembly, then bill clients in instalments or upon case completion and get paid promptly
- Billable hours recovery: Capture all chargeable time via time recording features and automate inclusion in matter-related invoicing to boost profitability
- Billing document management: Your shared ‘Money’ dashboard and hyperlinks throughout all case management actions provide one click access to associated billing system screens, and financial data and documentation
- Payment requests: Make payments from client, office and deposit account ledgers by Bacs transfer, cheque or cash
- Strengthen your payment chain: Get the right money to the right client, opposition or counsel with our MoneyChain feature for sort code and bank account verification
- System warnings: See exclamation marks for missing e-chit information, confirmation notifications for tasks that cannot be later undone and other system prompts for incorrect entries
- Multi-tasking capabilities: Perform tasks in bulk such as printing multiple e-chits simultaneously and raising batch bills on a monthly, quarterly or annual basis
- Authorisation levels: Establish authorisation processes with individual security permissions to sanity check all financial postings
- Bank reconciliation: Run bank reconciliation reports and keep a tidy set of books to effortlessly match transactions between ledger and bank
- Clear VAT and audit trail: Choose to apply VAT, and auto-stamp postings and documents with the date, time and user in order to keep track of every money movement
- Credit control: Create customised payment reminder letters in your corporate style then monitor and chase late arrival of monies to streamline debt collection
- Period end reporting: Run month and year end reports in batches using standard and custom-made templates then print en masse for accurate accounts management and real business intelligence
- Free accountant licence: Your accountant can log in remotely by using Interactive's online accounting format for mobile access to view and analyse your finances thereby simplifying statutory accounting procedures and routine audits
- Regulatory compliance: Act upon system warnings for error-free entries, access anomaly reports for rectification and generate breach reports for submission to the SRA, CLC or Law Society of Scotland
- Remote system access: With your data safely stored in the cloud, connect to your web based software whenever, wherever via the internet, even from court, for true cloud accounting and paperless working
- Security measures: State-of-the-art technology and ISO 27001 accredited industry-standard data centres protect your valuable data and provide a more resilient set up
- AML screening: Enter minimum mandatory data to perform reliable AML and credit checks via our additional AML module and, as a result, mitigate risk
- Staff training: Undergo CPD, either online free webinar or on-site training, and learn how to get the most out of your investment in Interactive
- Software development roadmap: Our solutions are constantly developed in order to accommodate the demanding requirements of today’s modern law firm
- Simple monthly costs: Switch from heavy overheads to pay-as-you go monthly fees and save money along the way
- Case management software: An integrated, comprehensive legal case management suite and legal forms library with bundling capabilities helps you proactively manage your matters and documents
- MS Office links: Purchase our add-ins for close integration with Microsoft Outlook and Word to simplify accounting processes whether you’re creating, sending or receiving invoices
- Complete outsourced cashiering service: Instead of employing your own bookkeeper, offload your entire legal accounts function to our dedicated cashiering team for expert, round-the-clock support
- Optional outsourcing support: Streamline overall office management by subscribing to outsourced payroll and typing services too, and utilise complete back office assistance
