Tech Tip #22 – Legal Accounting – Customizing Your Chart of Accounts
The heart of all business accounting is your General Ledger, which is led by your Chart of Accounts. This is where each and every transaction is mapped to for your proper reporting, like your profit & loss and balance sheet.
CosmoLex not only provides the standard accounts but also those which are legal-specific, eliminating the need to add such accounts like you would in a general accounting program. However, you still have the ability to customize this list should the need arise. This is a great first step to take when starting to use CosmoLex’s built-in legal accounting.
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