Multilevel Chart of Accounts

Objectives

• Create multi-level sub-accounts under primary accounts

Steps

Lexzur's billing module supports a multi-level chart of accounts, enabling law firms to generate detailed financial reports. These reports provide insights into specific practice areas, departments, or individual cases. Firms can create multi-level sub-accounts under primary accounts, with a maximum of five levels. This structured account hierarchy will also be reflected in billing reports for comprehensive financial oversight.

To set this up:
1. Navigate to Billing →  Advanced →  Chart of Accounts

2. Click on the tools to create a new account.

3. Choose the account type. A checkbox will appear to indicate if this is a sub-account. If unchecked, the account will be a parent account.

4. If creating a sub-account, select the parent account of the same type.

5. You can also edit existing accounts to make them sub-accounts.

These changes will be reflected in future billing reports such as the General Ledger, Trial Balance, and Income Statement Report, enhancing the clarity and depth of financial data.

For more information about LEXZUR, kindly reach out to us at help@lexzur.com.

Thank you!