Every year businesses look at the new year as a time to set goals that will hopefully bring their business to new heights in the coming year. Law firms are no different. Quite often when lawyers reflect upon the previous year, they are thrilled with how they actually practiced law, but the management of their firm can be a challenge … Read More
Tech Tip #26 – How does CosmoLex’s Online Invoice Payment Option Differ from Others?
Online invoice payment is not only convenient for your clients but with the integration of LawPay within CosmoLex, receiving payment becomes a completely automatic and seamless process. With many programs, online payments simply mean receiving the payment online, but you still need to make the entry within your billing system. In the case of CosmoLex & LawPay, when a client clicks on … Read More
Tech Tip #25 – Setting Up Your Law Pay Integration For Credit Card Processing
We have added credit card processing to CosmoLex through LawPay. Those who already have a LawPay account, you can go ahead and set up your integration in a few easy steps. This will allow you to receive retainers, other deposits and invoice payment all by credit card within CosmoLex. Here are the steps to do so: On Our Support Site If … Read More
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 trust accounting from start to … Read More
Making The Most of Your Firm’s Marketing Budget
As a lawyer managing their own firm, you understand the need to generate business. Without clients, your rent doesn’t get paid, your attorneys and employees don’t get paid, your lights get turned off, and your firm will ultimately fail. I’m fairly confident you don’t want to start a new job search or fire any of your firm’s employees. My advice … Read More
Tech Tip #23 – The New and Improved Post as Matter Expense Feature
One of the easiest ways to lose income is to forget to seek reimbursement for matter costs. We have a new and improved Post to Matter function which allows you to record the out of pocket expense, post to the matter and make the proper accounting entry all at the same time. Even better is that this is a hard … Read More
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 … Read More
Tech Tip #21 – How Can You Become Aware Of Everything That Goes On In Your CosmoLex Program?
Recent Activities… is your best friend. Located under the Dashboard tab, this is the central hub for reporting all that takes place within your CosmoLex program. This is helpful for a few reasons If you have several users within the program, you can trace back to who may have done what at any particular time. added, edited or even deleted … Read More
Tech Tip #19 – Invoicing for Clients With Multiple Matters
For many areas of practice, it is the norm to have clients with several matters being worked on at the same time. In these situations, you want your internal billing to still be separated by matter as it should, but you may want for the client to see an overall summary of all matters, as they will most likely make … Read More
Tech Tip #20 – Your Activities Tab Helps Save Time
You may notice that the tabs within Activities and those within Matter Details are practically identical. The reason? It is all a matter of preference. If you are focusing on a specific matter, you may do all of your activities within matter details. But what if you are entering time entries throughout different matters? Or wanting to email invoices across … Read More