CosmoLex Law Practice Management Software Now Includes Complete Legal Business Accounting

Global News

02
Jun
2015

Editor

The general release of CosmoLex version 3.0 gives small law firms and solo practitioners across the country a full-service, legal business accounting solution,  wrapped seamlessly inside its popular practice management & billing system.  This is big news for lawyers who can now get everything they need in one application -- a total solution that can meet  the unique challenges of managing a successful legal practice.  

The combination of accounting with practice management & billing has long been on wish lists for many law firms, and the new CosmoLex received high marks during its April beta release when many real law practices  were delighted to see how CosmoLex now handles all their business bookkeeping, as well as legal-specific areas (like trust accounting) automatically, in the background.

Rick Kabra, CosmoLex CEO, “Until CosmoLex, there was no web-based law practice management software that could also tackle the exact accounting requirements of the legal profession. Law firms had to make do with customizing and tweaking generic accounting packages as best they could.” Kabra added, “Small law firms that use CosmoLex for their day-to-day operations now also get accurate accounting applications that comply with various business and trust accounting regulations” 

“The new CosmoLex system is the result of our drive to deliver the best possible solutions for small law firms and solo practitioners.” said Kabra. “We listened to and incorporated the requests and suggestions of CosmoLex software users and input from legal professionals across the country.”

The revisions to the CosmoLex law practice management software offer a single platform that integrates law office accounting with practice management. The newest features highlighted in the software update include:

• Fully integrated cash-basis general ledger accounting
• Complete legal-specific, customizable chart of accounts 
• Accurate and automated accounting for hard and soft matter costs
• Automatic invoice payment allocation to proper general ledger accounts
• Check  and deposit slip printing and bank reconciliations
• Legal-specific management and financial reports

CosmoLex has made its mark in the legal industry with customers in 47 states in the U.S. and has a presence in many other countries. The software receives consistent rave reviews from its users and legal publications, and continues to evolve and deliver innovative solutions that make day-to-day work life easier for attorneys and allowing them to devote more of their time to the practice of law.