Cosmolex bridges the gap between the billing world and the accounting world.
Legal practice management and business accounting software.
Fully integrated Billing, Accounting and Practice Management
Trust Account Management
Setting up Matter Ledgers.
Completing Trust Transactions.
Avoiding Commingling or Overdrafts.
Matter default trust bank(s) & individual ledgers.
All transactions must be associated to a matter.
Bank & Ledger overdraft prevented.
Trust compliance reporting including trust reconciliation.
Docketing & Disbursements
Billing Integration with Calendar, Tasks etc.
Differentiating firm from client expenses.
Capturing all client expenses for billing.
Recording correctly on GL.
Both accounting & billing steps in one.
Matter specific cost posting.
Hard & Soft cost tracking.
Mobile entry on the go.
Bank feeds/import for cost tracking.
Comparative P&L and Balance Sheets.
Collection/Fee Distribution Reporting.
Law Society Required Reporting.
Advanced Accounting Reporting:
Legal Accounting Reports built in.
Fee Distribution Reports included.
HST billed/paid reporting.
Law Society Compliance Docs Deck.
Class-Based P&L Reporting.
Tracking & Payment of Payables
Entering Bills & Tracking Status.
Billing to Matter for Reimbursement.
Reporting on Accounts Payables.
Can track credit & business account ledgers.
Can pay multiple payables with one transaction.
Can bill directly to client & place on hold until payment received.
Can leverage bank feeds & statement imports.