Making the Switch from Using Separate Systems

CosmoLex’s integrated accounting feature will significantly streamline your administrative operations. By consolidating trust accounting and general accounting into one system, you save time that would have otherwise been spent navigating multiple systems.  

This ultimately reduces the risk of financial inaccuracies and allows you to concentrate on serving your clients instead of managing accounts. 

With CosmoLex’s compliant trust accounting feature, you never have to worry about violating regulatory requirements. The system is designed to keep you audit-ready at all times, so you can focus on your legal work rather than worrying about compliance.   

This peace of mind will boost your confidence in managing your practice, knowing that the financial side is in safe hands.  

By offering a comprehensive view of your firm’s financial health, CosmoLex empowers you to make well-informed business decisions.  

Get all your billing, payments, and accounting records in one place so you can clearly understand your firm’s financial performance—and better optimize resources and strategies to increase profitability. 

CosmoLex’s straightforward pricing model makes budgeting easier for your firm. With a single subscription, you can access all the core features you need to run your practice efficiently without managing multiple logins and monthly fees.   

This helps your firm reduce operational costs and makes financial planning more predictable.

Choosing CosmoLex means investing in a future of streamlined operations, increased efficiency, and greater profitability. Discover how our platform can revolutionize your practice, allowing you to deliver exceptional legal services while driving the success of your law firm. 

 Experience the transformative power of a comprehensive solution when you try CosmoLex free for ten days.  

CosmoLex Cloud has built-in trust and general accounting to eliminate the frustrations of using separate billing and accounting systems, such as:

• Duplicate data entry. This is a time-consuming and error-prone process for lawyers, who can’t afford to waste the resources on it.
• Poor Financial Reconciliations. Complex imports and exports that never seem to reconcile properly leave a lot of gaping holes and room for compliance violations in your books.
• Added Cost. The cost of paying for multiple software subscriptions adds up quickly. And add to that the cost of the required training to get up and running with those systems.
• Scattered Financial Data.With billing and accounting data scattered in different systems, you have no reliable way to get a comprehensive view of the productivity and profitability of staff, clients, or the firm as a whole.

CosmoLex also gives you comprehensive, compliant trust accounting that keeps you audit-ready all the time. If you use QuickBooks for trust accounting, you need to be aware of critical challenges, such as:

• 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.

CosmoLex is designed for unique regulations pertaining to the practice of law—especially when it comes to the handling of money. Entering and tracking client-related financial transactions between Clio and QuickBooks is likely to result in struggles with actions like:

• Accurately tracking client advances
• Disbursement tracking, billing, and collections
• Paying invoices from trust funds
• Allocating payments to correct general ledger accounts

With one integrated billing, payments and accounting system, you’ll keep your finger on your firm’s financial pulse. A comprehensive set of billing, collection, payment, accounting, and staff productivity reports that are always up-to-date in real-time, allows you to always know exactly where the money is coming from and where it’s going.