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.
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
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.
Free Login for External Bookkeeper
Every law firm needs a professional bookkeeper or accountant to ensure that their financials are 100% clean & compliant. We make it easy for your trusted financial advisor to work on your books with our CosmoLex Accounting Partner (CAP) program. With a free Client Access Login, they can access your account remotely (with your explicit permission), review your firm financials, and tidy them up — without any cost to you or them. Call us for more details.