When it comes to management of trust accounts, “close enough” is NOT good enough. Trust account mistakes are among the leading causes of ethics complaints and disbarment; you need an attorney trust accounting software that supports a “zero tolerance” for errors.
That’s just what you get with CosmoLex. The beauty of built-in legal trust accounting is that you’ll find it easy to stay current on the bookkeeping for all your trust accounts because it will be part of your daily practice management routine. Automatic safeguards protect against overdrafts and check fraud. Your trust accounts will always be current, compliant, and “audit-ready”.
In fact, CosmoLex eliminates the need for any other software – along with all the synching, importing, exporting, and duplicate entry busywork that entails.
Other web-based legal practice management software may include a few basic client trust funds functions. Only CosmoLex provides a comprehensive trust/IOLTA accounting system. CosmoLex attorney trust accounting software gives you all of the following features – built-in:
Reconciling trust accounts every month is mandatory. It’s the first thing an auditor will want to see. That’s why CosmoLex attorney trust accounting software made sure that running a bank reconciliations is easy — and “error proof”.
Just open up the trust bank account in the CosmoLex software, check off the transactions listed in your latest bank statement, and click. The entire process takes only a few minutes.
Your firm might have multiple trust bank accounts, and you can manage them all from within CosmoLex. In fact, you can manage multiple bank accounts with unlimited client ledgers per bank.
CosmoLex legal trust accounting software protects you and your firm from the most common trust accounting violations.
You don’t need to use 3rd party accounting software for bank reconciliation, report generation or check printing. (Every duplicate data entry or export/import is one more possible error you can’t afford!) CosmoLex integrates all the functions you need. Click Here To See Sample Attorney Trust Accounting Reports.
In most states, attorney trust account regulations require monthly three-way reconciliation reports. CosmoLex will produce these critical documents for you — in one click.
CosmoLex attorney trust accounting software may be 100% cloud-based, but that doesn’t mean you have to go paperless. When you need disbursements, you can print checks directly from the program. Print checks on your office printer using our check paper stock. With CosmoLex legal trust accounting software, you have the option to print voucher or standard check formats. (Voucher formats are recommended for trust bank checks.) View Sample Checks Here.
Check fraud can be especially devastating to practices in certain areas of law, such as personal injury and real estate settlements. Even a solo firm can easily have over a million dollars in a trust account, which means that the potential loss from the passing of a fraudulent check is enormous. And when a large number of checks are issued every month by multiple parties – this further increases the fraud potential.
Positive Pay is a service provided by most major banks. It has become the industry standard protection against check fraud. CosmoLex includes built-in support for integration with Positive Pay.
Click here to learn more about Positive Pay and how CosmoLex attorney trust accounting software can help you with Positive Pay implementation at your firm.
If your firm handles client trust funds, you need a legal trust accounting software that includes all the features you need to manage them correctly.
Try CosmoLex for 30 days in your practice at no cost or obligation. No credit card is required to sign up for a trial.