Daily hassle of duplicate data entries and constant need to double check billing & payment records is time consuming.
Balances going out of sync between your billing and accounting programs will cause a major reconciliations and audit headache.
QuickBooksTM is not designed for unique requirements of legal accounting. Staying compliant will be challenging.
Separate subscriptions, extra bookkeeping efforts, low personal productivity all add up to a lot of extra costs
CosmoLex is the only Cloud-based total solution that includes billing, practice management AND compliant law office accounting. (No QuickBooks™ Needed). CosmoLex’s One Price / One Login system ends the complexity, hidden costs and daily struggle from using hodgepodge of practice management, billing & accounting systems — forever.
Lawyers live by the rule that “time is money”. CosmoLex gives you a lot more time by allowing you to get work done from anywhere. And we’re talking about real work, not just timekeeping entries. That’s because CosmoLex gives you 24/7 access to all the details for all cases, including documents, billing records, financial transactions, correspondence & more. You can use any device: PC, MAC, laptop, tablet or smartphone … there’s even a CosmoLex phone app!
Clients appreciate that you can operate on the go — and not make them wait until the next time you’re actually in the office. In fact, today’s clients demand it.
Technology is great when it works — and an incredible headache when it doesn’t. When it comes to legal practice management software, downtime is more than an inconvenience. It can be extremely costly, leading to even the loss of a case.
When you put your practice on the Cloud with CosmoLex, you shift the burden to us. Our resources dwarf anything you could do in your office — which is why you’ll enjoy over 99.99% uptime with CosmoLex. Plus, you’ll never need to deal with a tedious “update” or an emergency “security patch” — because we take care of those, too. All you need to do is log in like always — CosmoLex is always up-and-running, always up-to-date.
Legal accounting has its own peculiar rules. Many of these are not very well understood — even by CPA’s. And as countless lawyers have discovered, trying to do law firm bookkeeping in a generic program like QuickBooks™ is like trying to jam a really big square peg into a really small round hole. It’s always a problem — it never gets easier.
Law firm accounting is also inextricably intertwined with billing & practice management details — which adds yet another level of frustration when working with stand-alone, generic accounting software. The need for duplicate data entry or complex data sync/imports/exports makes the whole situation unpleasant and error-prone.
CosmoLex accounting solves BOTH problems. It’s designed from the ground up to specifically handle all the nuances of legal business & trust accounting. CosmoLex understand terms like retainers, client funds IOLTA, disbursements, advanced client cost, fee income allocations, contingency fees, etc. Generic business accounting programs don’t. All the rules & account types are hard-wired, ready to work for you. And it’s built-in, sitting side-by-side with your billing and practice management data. Which means that all your billable activities & expenses get automatically added to your bookkeeping ledgers — you’ll never have to deal with a failed import/export or duplicate data entry procedure ever again.
Perhaps most important, CosmoLex helps keep you compliant. Built-in accounting makes it possible for CosmoLex to include automatic safeguards to protect you from compliance problems. Remember, a failed audit disbars the lawyer, not the lawyer’s accountant.
The words “Trust Audit” will strike fear in even the most careful attorney. Yet, too many law firms ignore good bookkeeping practices until it’s too late. CosmoLex makes trust accounting foolproof from the get-go. No extra tools or learning required. Automatic, built-in safeguards protect you against common ills such as commingled funds, client ledger overdrafts or duplicate check numbers. Each client retainer is tracked individually, so it can only be used for the benefit of its matter or to pay its bills. Bank reconciliations are easy, and even those dreaded 3-way reconciliations are a simple, one-click process. Every trust account report needed by the auditors is available at your fingertips. When it comes to Trust Accounts, CosmoLex “has your back”. Do we need to say more?
CosmoLex is not just a website with flashy screens and little substance. CosmoLex is a robust set of tools to manage both your practice and your business with the same level of sophistication used by large firms. Yet, CosmoLex is easy & affordable enough for small law firms. Dashboards provide high level summary — yet details are only a click away. Class-based accounting lets you view financials by attorney, practice, department, location or a combination of these. Collected income allocation helps you distribute fees among partners, staff & of-counsel based on origination and/or collections. You get the picture…
The privacy and security of your client’s legal matters is something that cannot be left to regular email anymore. CosmoLex solves your security needs by giving you a secure communications portal — that can be used by clients to transmit documents and other communications safely. Everything is protected by bank-grade encryption and security protocols — and instantly backed up. CosmoLex’s Secure Client Communication Portal is something your clients will appreciate and respect.
For too long law firms have remained behind the curve when it comes to taking credit card payments. It’s another area where legal accounting complexities can be overwhelming, especially for small law firms.
CosmoLex’s has put that problem to rest. Built-in accounting — and a LawPay™ partnership that eliminates the fixed monthly fee — gives every law practice an affordable, end-to-end solution that makes accepting credit card payments a no-brainer. Clients want the convenience of online bill payments; lawyers want the faster cash flow. And CosmoLex wants you stay compliant! CosmoLex has transformed the “credit card dilemma” into a win/win for everyone.
In today’s world, long-term service contracts are disappearing. No one likes them. Neither do we. We know that the best way to keep customers loyal is to provide a great product with great service — at an easy-to-understand affordable price. Judging by our 99% customer retention rate, we must be doing a pretty good job. We don’t need long term contracts. Neither do you.
CosmoLex is a “total solution”. Which means our customers put a lot of faith in us. We honor and respect that faith. That’s why we give every customer — large and small — unlimited support and training.
We also know that you can’t afford “hit or miss” customer service from some offshore agent that handles dozens of companies. So when you call into CosmoLex for support, you talk to our own experts at our headquarters offices — where we have ALL the answers. From daily training classes to live phone/email support, we do everything possible to respect your time when you need help. We count your satisfaction — not how many times you called us. We did mention our 99% retention rate, didn’t we? Great customer service is one reason why.
While CosmoLex built-in accounting does most of the heavy lifting, many customers still use a third-party accountant or bookkeeper for monthly review and bank reconciliations. CosmoLex makes that extremely easy for both of you — by giving a free login for your qualified financial guru. They can access your books from their own offices (of course with your consent and controls). Which means they won’t ever need to ask you to spend your time chasing down the details they want to review. It’s all right there for them in CosmoLex.
Your client and case data are priceless. So, the very thought of moving it to a new platform might make you a bit anxious. No need to worry. Every year, we help hundred of law firms do this without a hitch. And we’ll do it for you, too. We provide a complete guide, tools and assistance at no-charge. And if you don’t have any time, we can hire trained experts to provide a turn-key migration for a nominal charge.