Costly Challenges of Using the Wrong Practice Management Software for Your Law Firm: Errors and Time Consuming Adaptation Efforts

Successful development of Integrated Accounting software that addresses the many distinctive needs of the legal profession is challenging. Software tools used by other industries fall short. The accounting aspects must meet all the basics, as well as address three additional areas that together are unique to the practice of law: client funds accounting, matter cost […]

Read more

Costly Challenges of Using the Wrong Practice Management Software for Your Law Firm: Ensuring Your Tools Meet all of You Accounting Needs

Successful development of Integrated Accounting software that addresses the many distinctive needs of the legal profession is challenging. Software tools used by other industries fall short. The accounting aspects must meet all the basics, as well as address three additional areas that together are unique to the practice of law: client funds accounting, matter cost […]

Read more

The Challenges Of Monthly Trust Account Reconciliation

Reconciliation ensures your own records match the bank’s actual balance. It is a chance to identify banking or bookkeeping mistakes. Although tedious, in many cases it’s only during the monthly reconciliation process that mistakes are discovered. It is MUCH easier to review these records monthly and catch errors that have occurred in the past 30 […]

Read more

Different Types of Trust Accounting Records

At its most basic level, trust accounting requires tracking of all deposits and all disbursements made through the account for each client. This is done by using several ledgers and journals, which we’ve outlined below. A general point to keep in mind is that separate clients should be considered, and treated as, separate accounts, even […]

Read more

Avoid These Common Mistakes In Trust Fund Accounting

Trust Accounting is a relatively simple accounting process. Unlike most accounting needs there isn’t any profit or loss to track. There is no depreciation or amortization to deal with. You don’t need to calculate interest accumulation. There is no tax accounting required, and you don’t have to calculate account management or banking fees. How, then, […]

Read more

1 15 16 17 18 19 38

Try CosmoLex Legal Practice Management Software

Get 30 Days Free

– CosmoLex connects with the tools you know and love –

google
dropbox
box
Microsoft Office 365
OneDrive
lawpay
casemaker
gmail
outlook
outlook
top