Bank Imports & Reconciliation

Import Electronic Bank StatementsImport Electronic Bank Statements

CosmoLex lets you import electronic bank/credit card statements (QBO format) for automated data entry. This feature is often useful to import monthly credit card transactions, as credit card charges are normally only entered after the statement becomes available. Built-in adaptive mapping rules can correct payee names and learn chart of account(s). You can even post matter-cost related transactions while importing, thus preventing a major source of missed expense entries.

Bank Reconciliation Auditors Can TrustBank Reconciliation Auditors Can Trust

The monthly bank reconciliation is one of the most important aspects of office accounting. Monthly bank reconciliation reports are mandatory and additionally may help you locate mistakes made by you or your bank. These are also the first set of reports lawyers are asked for during an audit.

Auto-reconcile transactions with electronic bank statement data (QBO format) or reconcile manually. Additionally, you can go back to any prior month, look at a snapshot of transactions exactly the way they were, and reprint previous reports.

Minimize Accidental Post-Reconciliation Edits

Minimize Accidental Post-Reconciliation Edits

Beware of bank reconciliation methods offered by general business accounting programs! Most of them do not prevent accidental edits of transactions during the reconciled duration or reprint prior reconciled reports. CosmoLex is designed specifically for law firms and their unique business & IOLTA accounting requirements. CosmoLex automatically locks your trust books after bank reconciliations are complete — to prevent accidental revisions, providing added protection against a rogue employee.

Compliant Trust Account 3-Way ReconciliationCompliant Trust Account 3-Way Reconciliation

In most states, attorney trust account regulations require monthly three-way reconciliation reports. CosmoLex will produce these critical documents for you in one click.

Our three-way reconciliation report consists of:

  • Bank Balance
  • Book Balance
  • Client Ledger Balance

– CosmoLex connects with the tools you know and love –

google
dropbox
box
Microsoft Office 365
OneDrive
lawpay
casemaker
gmail
outlook
outlook
top