CosmoLex vs QuickBooks®: Why Lawyers Prefer CosmoLex Built-in Accounting

It’s simple. CosmoLex is built to handle all the unique requirements of legal accounting. QuickBooks is not.

And that is a big deal. Because it means that QuickBooks financials are always suspect, due to the need to use multiple manual (error-prone) procedures & workarounds. Plus, QuickBooks results in higher costs because you need to run multiple software systems – for accounting, billing, practice management, etc. These costs – in money, time & effort -- never go away.

Let’s take a look…

Alternative to QuickBooks®



Financial Data


It is up to you to collect all the data for timekeeping, billing, CRM & more. Getting that data into QuickBooks takes time & effort.

  • Data sync between billing, time keeping, etc. is a manual process that requires constant checking.
  • Double Data Entry. You either manually re-key financial data into QuickBooks -- which takes time & brings more errors -- or you can struggle with problematic imports.

CosmoLex’s all-in-one system keeps one set of data – that is shared across all modules (billing, timekeeping, accounting, etc.)

  • No Data Sync Needed
  • No Double Data Entry
  • No Data Imports

Trust Accounting


Staying compliant involves manual workarounds.

  • No protection against overdrafts or commingling.
  • No protection against posting funds in the wrong accounts.
  • No 3-Way Reconciliation. Must be constructed manually, offline. A time-consuming process.

CosmoLex keeps you compliant – automatically.

  • Built-in, automatic protection for overdraft & commingling.
  • Funds automatically posted to the correct accounts.
  • 3-Way Reconciliation built in as a one-click process -- that even pulls in bank account data automatically.

Cost Tracking


Cost tracking is a manual process.

  • Must manually check the correct posting of all items.
  • Cost recovery for direct & indirect cost reimbursements is a tedious manual process.
  • Inflated revenue is common due to the difficulty in differentiating between income & cost recovery.

Cost tracking is automatic, thanks to CosmoLex’s matter-centric architecture.

  • CosmoLex automatically checks that all funds are posted to the correct account.
  • Cost recovery reports are built in. Always available. Always current.
  • Revenue is accurate & always current.

Payment Accounting


Payment tracking involves manual workarounds.

  • Partial payments are applied proportionately, requiring manual adjustment.
  • Payments from a trust account to an invoice require multiple manual steps.
  • Online Payments –QuickBooks does not track payments to invoices. Reconciliation is a daily headache.

Payment tracking is automatic.

  • Partial payments are applied first to costs, then to fees – automatically.
  • Trust account payments are applied to an invoice with a single click.
  • CosmoLex’s built-in online payment processing tracks transactions end-to-end. Reconciliation is automatic.

Productivity & Profitability Analyses

  • Must be done manually offline by pulling data from multiple pieces of software.
  • CosmoLex includes multiple built-in reports – and it is easy to customize your own.

Software Costs

  • Multiple Subscription Fees for separate systems for accounting, practice management, billing, CRM & more.
  • Support & Training Costs are also multiplied.
  • One Flat Fee gives you ALL the tools – time keeping, billing, accounting, CRM, etc. -- needed to run your law practice.
  • Free Support & Training.

CosmoLex is almost entirely automatic …

and always adjusts your financials to ensure compliance with legal requirements.

QuickBooks is almost entirely manual …

and ignores legal compliance issues – forcing you to make the constant necessary workarounds.

It is easy to see why lawyers prefer CosmoLex to QuickBooks. Sign up for your Demo today.

Separate Billing & Accounting

  • Duplicate data entry
  • Imports/exports that never seem to reconcile 100%.
  • Multiple software subscription fees & required training add up to a real cost of both money and time.
  • With billing and accounting data scattered, you have no reliable way to get a grasp on the productivity or profitability of team members, clients, or the firm itself.

Trust Accounting

  • QuickBooks allows Client Trust Funds to be posted incorrectly to any account — even to rent or payroll.
  • No built-in protection against overdrafts or commingling.
  • Three-way reconciliation reports are not built-in. They need to be assembled manually from multiple reports, making reconciliations time consuming and error-prone.

Client Cost Tracking

  • Accurate matter cost accounting is challenging because it’s up to you to manually check the correct posting of all items, all the time.
  • Tracking of cost recovery between direct and indirect cost reimbursements is also a tedious manual process.
  • Inflated revenue is common due to the difficulty in differentiating between income & cost recovery.

Client Payment Accounting

  • Partial payments against invoices are applied proportionately – rather than first to costs and then to fees. This requires constant manual adjustment.
  • Applying payments from a trust account to an invoice requires multiple steps.
  • Online Payments – when QuickBooks does not know which invoices are paid, the money trail is lost. Reconciliation becomes a daily headache.

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What Our Clients Are Saying

Top Reasons Why You Can Trust CosmoLex

No Long-term Contracts

Change happens—we get it. That’s why we don’t lock you into a long-term contract where you’re billed annually, so you can cancel your accounting software subscription at any time, for any reason, hassle-free. We don’t force our customers to sign a binding contract—instead, most law firms simply choose to use the best legal accounting software based on our innovative practice management features.

Simple, All-inclusive Pricing

Every client gets all of our state-of-the-art software features. As new features are added to our law firm software, you automatically gain access to them—with no additional fees per user.

Used By Thousands Of Firms

CosmoLex meets the practice management needs of law firms of all sizes and practice areas. No matter the size or shape of your law firm, CosmoLex can help you manage cash flow, simplify matter management, and make better business decisions.

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