Tech Tip #24 – Surviving Your Trust Account Audit


As you all know, trust accounting is no joke. You need to keep on top of compliance regulations to ensure no issues occur come audit time. In the past, trust accounting was often kept outside of a Firm’s Legal Practice Management system. That creates many inefficiencies which lead to serious errors. Fortunately, CosmoLex fully integrates […]

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Tech Tip #6 – How to Maintain Evergreen Retainers


Having on hand retainers makes billing much easier. No waiting on payment, or chasing overdue invoices. However, what happens when your retainers are depleted, but your work is not yet done? That is why Evergreen Retainers are so important. Evergreen is the practice of staying on top of your retainers and seeking replenishment before the […]

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To Commingle or Not To Commingle- Is It Really A Question?

A common misconception when it comes to legal accounting is that every single lawyer needs to establish a trust account. While it is a sound legal accounting strategy, it isn’t always required. Some states do not require that attorneys establish a trust account, and they can even accept client fee advances into business operating accounts. […]

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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 […]

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