CosmoLex Cloud Legal Billing Software Adds User Access Controls

Granular User Permissions Gives Attorneys Complete Control Over Billing Record Access   NORTH BRUNSWICK, N.J. – July 23, 2014 – CosmoLex announced today the release of version 1.6 of its cloud-based legal billing and trust accounting software. The new version adds user access control, allowing law practices to safely share billing information without compromising client confidentiality.   Attorneys use law firm … Read More

Retainers: The Not-So-Secret Secret to Positive Cash Flow

Virtually all experienced attorneys insist on upfront payment, either by charging a flat fee for a case or by asking for an evergreen retainer to cover billable hours and expenses incurred while handling the matter. New attorneys are often reluctant to ask for money up front, and as a result end up with a lot of unpaid accounts. Using a … Read More

How To Deal With Bad Debt In Your Law Practice

Trust Accounting

Wouldn’t it be nice if all of your clients paid on time? Unfortunately they don’t. A few are dishonest, more are forgetful and others simply don’t have the resources. According to legal consultant Art Italo, “bad debt can run as high as 30% of total billings for small firms and solo practitioners, and up to 15% for large firms”. Can … Read More

What Is Three-Way Reconciliation?

Trust Accounting

If your practice manages trust accounts, then you need to know what a three-way bank reconciliation is. As a trust administrator you are required to perform this balance periodically, most likely every thirty to sixty days; check your state regulations to see what the rules are in your state. These reconciliations are difficult to do by hand which is why … Read More

Cloud-Based Tools To Complement CosmoLex

CosmoLex has all the time tracking, billing and trust administration features an attorney needs, but you need other tools for your practice. Maybe you’ve discovered how much you enjoy the flexibility of a cloud-based law office billing program and are looking for other tools. Here are a few other cloud software categories you might want to investigate. Document Authoring If … Read More

4 Steps To Defend Against Billing Disputes

Matter decided, case closed, final billing mailed, account settled, done. Then six months later you get a letter that your client is filing a fee dispute with your bar association. You didn’t even realize the client was unhappy, but now you have to back up your invoice. A legal billing program like CosmoLex can be your best defense against these … Read More

Professional Attorney Invoices: It’s Not Just A Good Idea– It’s The Law

Comprehensive, accurate and uncluttered invoices increase the likelihood of collection, which is important for maintaining the cash flow of your law firm. However the kind of high-quality invoices produced by legal time and billing software such as CosmoLex may not just be smart; they are arguably required by the American Bar Association. Your Obligation To The Client In the article … Read More

Keep Cash Flowing With Active Retainer Management

Getting an evergreen retainer is a common tactic used by attorneys to ensure there is money available from the client when invoices come due. However some law firms don’t manage their retainers and when the funds run out, they have to bill clients and wait for their money. Version 1.5 of the CosmoLex cloud-based legal billing system has added low … Read More

Build A Mobile Office And Work From Anywhere

Wouldn’t you love to practice law while sitting on a beach and sipping a tropical drink? Well that’s probably not going to happen. However with a mobile office you can work from home, a coffee shop, the courthouse…and yes, maybe occasionally while sitting under an umbrella watching the waves crash against the shore, as long as you can get a … Read More