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Tech Tip #106-Monthly Account Reconciliation Isn’t Enough

Tech Tip Daily Reconciliation

Depending on your jurisdiction you are likely required to perform a 3-way reconciliation every 30 or 60 days. While it is important to meet these requirements, you should actually be doing this much more frequently. Reconciling your accounts on a daily basis ensures that you will notice any errors or inconsistencies as they occur, opposed […]

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Why Attorneys Should Use Legal-Specific Over General Accounting Software

Blog Legal-Specific Accounting

So you’ve moved passed the shoebox of records containing the financial inflows and outflows that begrudgingly has to get organized by accountants or office staff. And you’ve decided the time-consuming creation of spreadsheets and reports that miss the continuous communication with accounts receivable. Now you may have hit the common fork in the road: general […]

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Tech Tip #105-Make The 3-Way Reconciliation Process Easier By Migrating Your Data

Tech Tip Reconciliation Process

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 #103- Daily Bank Reconciliations Are A Must

Tech Tip Daily Bank Reconciliations

Be honest, when you think of reconciling your firm’s bank accounts, do you think of it as a daily activity? Neglecting to reconcile your bank accounts on a daily basis can result in trust accounting compliance issues, unnoticed data entry errors, account overdrafts, and in certain situations failure to comply with regulations associated with specific […]

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