Streamline Your Law Practice with Cosmolex: All-in-One Management Solution
Discover Cosmolex, the cloud-based solution for legal billing, accounting, and practice management. Simplify operations, ensure compliance, and boost efficiency.
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CosmoLex Overview Video
Added on 09/07/2024
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Speaker 1: Every lawyer knows that efficiency and compliance are key to law firm survival. But struggling with multiple programs, such as one program for billing, another for practice management, and yet a third program for accounting, like QuickBooks, well, that is definitely not an efficient way of working. And using so many independent programs opens the door to errors and compliance problems. Welcome to Cosmolex, the all-in-one, easy-to-use, cloud-based total practice management solution. For one price and one login, you get everything you need to run your entire practice. Let's take a look. In Cosmolex, you get a state-of-the-art legal billing and payment system. With this, you can record time and costs anytime, anywhere, on any device. Built-in timers make it super easy to track time spent as you juggle between activities during a hectic workday. And you can forget about processing invoices one at a time. You'll generate all client invoices in a single click and email them all with just one more click. Whether clients pay by check or by credit card online, Cosmolex applies received payments and retainers to the correct accounts. And all balances automatically update. You'll issue overdue reminder notices to all past due clients with a single click. This feature alone can pay for your Cosmolex subscription each month. You can even issue low-retainer reminders from within the system with a single click, of course. And that's just the beginning. Along with billing, you get built-in capabilities to manage client funds and maintain compliance with legal accounting regulations automatically. Cosmolex includes comprehensive IOLTA Trust Accounting that keeps your firm audit-ready all the time. You won't need to use any other program or spreadsheets. And you won't lose any sleep over your trust account bookkeeping compliance, as Cosmolex gives you individual client ledgers to track every penny in and out for each client matter. You'll know your running balance for every case all the time. From paying invoices to third-party lien claims, you can prepare every type of trust disbursement. You can even print checks directly from Cosmolex. When it comes to trust accounting, error prevention is your best defense. Cosmolex automatically prevents commingling funds, ledger overdrafts, duplicate check numbers, and other common and costly errors. Your client ledgers and bank statements must match to the penny and on a daily basis if you want to keep your firm out of trouble. With its ability to electronically connect to your bank account and download your bank statement, Cosmolex makes bank reconciliations a snap. Trust accounting is incomplete without three-way reconciliation. In Cosmolex, it's just another simple, one-click operation. Cosmolex, with its built-in trust accounting safeguards, automated bank account reconciliation, and comprehensive reporting, can do a lot to put your mind at ease that your practice is protected. How about general office accounting? Let's see. Cosmolex has built-in business accounting. With Cosmolex, you don't need a separate accounting package such as QuickBooks or Xero. You'll manage any type of bank account, be it operating, trust, or credit card accounts, all from within Cosmolex. You can post and pay all vendor bills in Cosmolex. Routine office expenses, such as rent, phone, internet, get posted to appropriate general ledger accounts. Disbursements are automatically posted to the associated client matter. And you can print checks from within Cosmolex as well. You can complete your monthly reconciliations in a variety of ways, via electronic bank connection, by downloading your bank account statement, or even manually. Keep your finger on your firm's financial pulse using income statements and balance sheets, which are always up to date. You can even track income by practice area. With Cosmolex, there is no such thing as catch-up accounting. For partnerships relying on collection-based compensation, don't worry. Those dreaded spreadsheets can be handled by Cosmolex as collected fee calculations, with distributions to originating or responsible parties or of counsel, all just a click away. Billing and accounting are inextricably intertwined, and their compliance requirements are unique to the field of law. You'll win the battle for an efficient and compliant law practice management once your billing and accounting are tied together in a single system, one that is expressly designed to handle the nuances of legal work. Like Cosmolex. Now let's take a look at Cosmolex's practice management features. In Cosmolex, you get a smart calendar and task tracking. The Cosmolex smart calendar tags every entry to the appropriate matter, marks billable events for invoicing, and can attach a time card. And your Cosmolex smart calendar integrates seamlessly with your favorite tools, like Office 365 and Google Calendar, making it easy to collaborate with people outside your firm. You can automate and standardize task lists by creating predefined workflows, which automatically populate tasks and due dates for a particular matter with a single click. This ensures that nothing slips through the cracks. No need to lose sleep over billable events not being invoiced. Cosmolex tracks those for you. There's a reason why we call this feature the money finder. You also get matter-linked documents and emails. Find what you want, when you want, because Cosmolex files all emails and documents with their client matters automatically. It's all possible thanks to built-in seamless connections with Outlook, Box, Dropbox, OneDrive, as well as many other popular tools. It's all in one system, with one login, for one price. That's right. With Cosmolex, you no longer need to fiddle with multiple programs, such as one program for practice management, another program for time and billing, and yet another program for accounting, like QuickBooks. And that's not all. Cosmolex also gives you… Cosmolex interactive dashboards bring all critical data to the forefront. Drill down and take action right at the main dashboard, without needing to jump through numerous screens. The Cosmolex Secure Client Portal brings an added layer of security to protect the exchange of messages and documents with your clients. The Cosmolex LawPay integration makes accepting credit card payments easy and safe, and for qualified customers, we will even absorb LawPay's fixed monthly fee. With a free login from your Cosmolex account, your accountant can assist you right from their own office, without bugging you for all kinds of transaction records. You should see reduced fees. Every year, we help hundreds of law firms free themselves from hodgepodge systems. And we can help you, too. It's all backed by a mission-driven company. We do one thing – keep law firms efficient and compliant. Thousands of legal professionals put their trust in Cosmolex every day. We invite you to take a closer look and see the difference. Start your free trial today.

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