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Back to Basics: Legal Accounting vs. General Accounting

When it comes to keeping accurate records of your law firm’s accounts, it’s essential to make sure you’re using tools for the job that give you a clear picture of your firm’s performance and meet your legal, regulatory, and ethical requirements. Many firms, however, use outdated accounting methods or an assortment of industry-agnostic tools that don’t account for the unique … Read More

Six Common Legal Accounting Mistakes to Avoid

Managing a successful law practice is no easy task, and the financial aspect is as complicated as it is important to your firm’s overall health. In an industry where precision and accuracy are paramount, proper accounting is crucial to safeguarding your client’s interests and keeping your practice afloat. By better understanding common legal accounting mistakes, you’ll be better equipped … Read More

Avoid These Common Billing and Collection Inefficiencies (and Increase Your Cash Flow)

Money makes the world go ‘round—and that includes law firms. And that’s why billing and collection processes are a critical aspect of running a law firm of any size. Yet many small law firms and solo practices struggle with billing and payments because they operate with fewer resources than their larger counterparts. The result? Inefficient workflows and cash flow problems. … Read More

The Total Package: Streamline Your Tech Stack

Like most attorneys, you likely rely on a range of different tools designed to help you run your law firm more efficiently, productively, and profitability. But the question is, are these different technologies actually providing you with the best solution? If you’re cobbling together a system to run your law firm, the answer to that question is probably “no.” A … Read More

Back to Basics: Trust Accounting for Small Law Firms

Trust accounts are among the most complex aspects of running a law firm—and they can be especially intimidating for small firms because there are fewer people to bear the fiduciary responsibility. To add to the stress, compliance mistakes with trust or IOLTA accounts can lead to serious consequences, ranging from fines to disbarment. But you don’t have to let the … Read More

Five Ways to Improve the Client Experience at Your Law Firm

One of the greatest advantages of managing a solo practice or small law firm? The ability to work closely with your clients. You get the opportunity to truly know each client who walks through your door, and as a result, you can better serve them. Additionally, building close relationships with clients increases the chance that they’ll be satisfied with your … Read More

Introducing CosmoLex Websites for Law Firms

Building a website can be a demanding project. It requires tech skills, graphic design insight, copywriting know-how, and, of course, time. For large law firms, these projects can be difficult to take on, yet still manageable. For small law firms and solo firms, though, the time, money, and resources required to get a great website can seem like a non-starter. … Read More

Transform Your Legal Practice with Cloud Accounting (Without Sacrificing Compliance)

In many ways, the legal field is no different from any other industry. Lawyers need to track their income, manage expenses, and plan for the future using accounting reports. However, this is only part of the story. When it comes to law firm accounting, lawyers have much greater responsibilities than other professionals, as they are required to maintain compliance with … Read More

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