| Call Today: (866) 878-6798 | Schedule A Demo | Contact Us |

Law Office Accounting

Law Office Accounting 1

Law Office Accounting – A Total Solution

CosmoLex is your web-based alternative to QuickBooksTM, providing comprehensive, current & compliant bookkeeping for your entire firm. CosmoLex is built from the ground up to handle all of the unique accounting requirements your law firm must meet to ensure 100% compliance — protecting you from errors & penalties that come from using generic accounting software.

 

TechnoLawyer® author Warren Christopher Freiberg summarized it well, “CosmoLex Frees Law Firms From the Tyranny of QuickBooks and Complexity”.

Built-in Accounting Makes a Big Difference

Accounting is built-in, right alongside practice management & billing. That means practice management, billing, and accounting update each other in real-time. There are no failed imports or exports, no problematic reconciliations, and never need to re-enter any transaction more than once. Working in CosmoLex saves an enormous amount of time and virtually eliminates the possibility of most errors occurring.

Legal Business Accounting - Chart of Accounts
Law Office Accounting 2

Automatic Business Accounting

Everything you input into practice management and billing flows automatically onto your general ledger. CosmoLex will do all of your bookkeeping — automatically, in the background, in real time.

  • Cash-basis general ledger accounting
  • Complete legal-specific, customizable chart of accounts
  • Accurate and automated accounting for hard & soft matter costs
  • Invoice payments automatically allocated to the proper general ledger accounts
  • Sophisticated revenue distribution calculations
  • Electronic bank statement imports
  • Automatic bank data feed
  • Check printing, deposit slips & bank reconciliations
  • Comprehensive set of management and financial reports

Audit-Ready Trust Accounting

CosmoLex provides comprehensive and 100% compliant attorney IOLTA trust accounting that can:

  • Manage individual client ledgers
  • Accurately debits trust funds to pay client invoices
  • Prevent common trust mistakes, such as ledger overdrafts or co-mingling
  • Print disbursement checks
  • Import electronic bank statements and auto-reconcile books
  • Generate three-way reconciliation reports in one click
  • Generate a comprehensive set of trust recordkeeping reports
Trust IOLTA Accounting - Reconciliation

When it comes to maintaining end-to-end trust accounting compliance with CosmoLex, don’t just take our word for it! Download the Minnesota State Bar Association’s free 53-page eBook Other People’s Money: Keeping Trust Accounts Using CosmoLex.