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Top 10 Tips to Increase Your Financial Security
July 12, 2017 / by Rick Kabra / Law Firm Accounting
While providing clients with the best possible legal advice should be the goal of any reputable attorney, in order to run a trusted law firm, sound internal business practices must also be in place and prioritized. This goes beyond just protecting clients’ confidential documents, data, and financial information; a truly ethically-minded practice must also take […]
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Tech Tip #143: Accepting Credit Cards Makes Sense, But It Can Be Challenging
July 11, 2017 / by CosmoLex Team / Law Firm Accounting, Tech Tips
Just like any other business, your firm’s clients want to pay with credit cards. Credit card batching and disparate legal billing and accounting systems can make it challenging for firms to be able to accept payment via credit card. Use a legal specific accounting solution to effectively accept credit card payments from your clients. Watch […]
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Legal Accounting Challenges Only an Attorney Would Understand
July 7, 2017 / by Rick Kabra / Law Firm Accounting
At some point in your life, you sat down and made the decision to become an attorney. Maybe you were talking to your significant other, a friend, your parents, or even a stranger in a coffee shop. Regardless of who you were speaking to, it’s likely you discussed what type of law you were interested […]
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Client Costs & Managing Accounts Payable: Why Quickbooks Won’t Cut It
May 31, 2017 / by Rick Kabra / Law Firm Accounting
Quickbooks is a great accounting tool for any general business but if you work for a law firm, then it is missing many of the key factors you need! Recording client costs properly requires a legal-specific chart of accounts that many general business accounting programs do not include. Generally, there are three types of Accounts […]
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Tech Tip # 132: Accurately Track Lien Claims During A Case
May 18, 2017 / by CosmoLex Team / Law Firm Accounting, Tech Tips
In most contingency cases (and in many non-contingency cases), throughout the duration of a case you will accumulate lien claims. It is important that your firm track these claims to make it easy on yourself once it comes time to create settlement or disbursement statements. As your client’s fiduciary, it is your responsibility to address […]
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