What is PantherAccounting Plus?
PantherAccounting Plus is the comprehensive legal-specific accounting system built natively inside PracticePanther. That means your entire financial workflow, from initial intake payment to final invoice, as well as trust management and firm accounting, all live on one platform, not bolted on beside it.
PracticePanther’s standard accounting functionality, PantherAccounting, will still be available to customers via the Solo, Essential, and Business plans. PracticePanther’s newly launched Business Pro plan includes PantherAccounting Plus, which is designed to help law firms perform trust accounting, operating accounting, and financial reporting, all inside the same platform you already use to manage cases, track time, send invoices, and collect payments.
Key features of PantherAccounting Plus on the Business Pro plan:
Simplified & Compliant Legal Accounting Built for Law Firms
Simplify your trust accounting with guided three-way reconciliation workflows and one-click generation of reconciliation reports. Built-in safeguards keep your firm 100% compliant with IOLTA, ABA, and state bar requirements.
Stay in control of your firm’s bookkeeping with an embedded General Ledger and customizable Chart of Accounts tracking firm expenses, transactions, and accounts receivable in one place. Access a comprehensive suite of tax-ready financial reports.
One single source of truth for case and financial data, where every transaction flows seamlessly from your casework into your firm’s books, connecting billable work, expenses, and trust activity.
Compliant Trust Accounting
Complete end-of-month trust accounting in minutes with a guided three-way reconciliation wizard that automatically matches bank transactions to your client ledger and balances.
Generate audit-ready reconciliation reports in one click, fully compliant with IOLTA, ABA, and state bar requirements.
Protect your firm against common compliance risks with built-in safeguards that prevent fund commingling and account overdrafts before they occur.
Keep matters funded with automated low trust balance alerts that proactively trigger replenishment invoices.
Fully Embedded Firm Accounting
Simplify day-to-day management of the firm's finances with a legal-specific Chart of Accounts, fully customizable to how your income and expenses are classified.
Easily maintain a detailed General Ledger that captures your complete transaction history across assets, liabilities, equity, revenue, and expenses.
Generate journal entries automatically as you bill clients, receive payments, and record expenses, ensuring everything flows seamlessly from casework into your books.
Tax-Ready Financial Reporting
Access real-time insights into financial performance with a robust pre-built set of reports, such as Profit and Loss, Balance Sheet, Trial Balance, and Cash Flow Statement.
Stay on top of vendor expenses and 1099 reporting to support healthy financial relationships with the partners you rely on.
Tailor any report to answer profitability questions specific to your firm, quickly export and share with your bookkeeper, partners, or other stakeholders.
Stress-Free Payment Management
Manage and pay all firm bills, such as rent, utilities, payroll, and subscriptions, from one platform.
Maintain a complete view of firm overhead by easily recording and categorizing hard costs, soft costs, write-offs, refunds, and adjustments.
Consolidate and verify manual payments through an enhanced deposit slip creation workflow.
Automatically sync credit card and bank transactions so you can ensure every payment and expense is captured accurately.