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Tech Tip #113-IOLTA Transactions For Immigration Attorneys
March 14, 2017 / by CosmoLex Team / Attorney Trust Accounting, Tech Tips
Many firms work on matters that last for several months and carry a large price tag. For immigration attorneys, this isn’t the case. Dealing with multiple matters that feature more IOLTA transactions inside of each matter is the norm. Multiplication tells you that this is more IOLTA transactions than any attorney wants to manage manually. […]
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Tech Tip #109-A Stable IOLTA Workflow For Immigration Attorneys
February 28, 2017 / by CosmoLex Team / Attorney Trust Accounting, Tech Tips
Immigration attorneys see more IOLTA transactions than attorneys in other practice areas. This requires them to align data between multiple systems on a regular basis. This process can become time-consuming and error prone. Watch this video produced by our CosmoLex Accounting Partners at Law Firm Velocity to learn more about IOLTA issues for immigration law […]
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Tech Tip #107-Ledger Overdrafts Are Avoidable
February 21, 2017 / by CosmoLex Team / Attorney Trust Accounting, Tech Tips
A ledger shows the amount of client funds a particular matter has. Understand that disbursements or invoice payments shouldn’t affect any balance other than the related matter in terms of ledgers. CosmoLex has your back by not allowing overdrafts from a matter and will give you the reason why. For more helpful tricks in handling client […]
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Tech Tip #105-Make The 3-Way Reconciliation Process Easier By Migrating Your Data
February 8, 2017 / by CosmoLex Team / Attorney Trust Accounting, Tech Tips
The 3-Way Reconciliation Process can be a challenging endeavor for law firms. While it’s required to do this every 30-60 days, it is extremely beneficial to complete the process much more frequently. The problem is the process can be both long and difficult. Migrating all of your legal accounting data into CosmoLex will give your […]
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Tech Tip #95-Irrespective of Where You Keep Your Client Funds, Keep Them Separate
December 20, 2016 / by CosmoLex Team / Attorney Trust Accounting, Tech Tips
It’s not secret that lawyers utilize retainers to maintain positive cash flow for their firm. In most jurisdictions, all client funds must be kept in trust accounts, but in few jurisdictions, such as NJ, NY, client advances may be kept in operating accounts. Regardless of whether your firm keeps client funds in an operating or […]
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