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.
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.
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