CosmoLex Announces Major Updates to Its Legal Billing and Trust Accounting Software

USA/Canada News

08
Apr
2014

Editor

CosmoLex, a cloud-based legal billing and trust accounting software, today announced major updates to the product designed to simplify daily administrative office tasks, allowing lawyers to more fully focus on the practice of law. CosmoLex is the first cloud-based legal billing system to integrate 100 percent of trust accounting features – including check printing and bank reconciliation – on the market today.

With these latest enhancements, users can personalize email containing invoices or even invoice reminders just one-click.

In addition to batch invoicing, CosmoLex now has the following additional capabilities:

• Print invoice in Word format – In addition to printing invoices in PDF, Word is also an option.
• Icons for matter billing method – The matter landing page now displays icons to specify the billing method – hourly, fixed, or contingency – for each matter.
• Icon for trust bank linkage – The matter landing page will display a “T” icon if the matter is linked to a trust bank.
• Matter balances while viewing matter details – While viewing the matter details, the top right corner now displays the unpaid, unbilled, operating retainer and trust retainer balances, which can be updated on the fly.
• Fixed and contingency fee as unbilled amount – For matters with billing method as “fixed fee” or “contingency fee,” the fee will be automatically displayed as the matter’s unbilled amount.
• Search bar options to filter by date range – The search bar for activities, matter details and bank details now has additional options, allowing searching by date ranges.
• Remember payee – Users can save payee information on the fly while creating transactions.
• Remember me – A check box is now available so users no longer have to enter a username when logging into CosmoLex.

“Our business model is simple – to compete against ourselves, providing better products and services each month to our clients,” states Dr. Rick Kabra, CEO and founder of CosmoLex. “This latest enhancement is exciting because our team talked to solo and small lawyers and listened to what they need to make their daily lives easier and have less administrative tasks to perform. While all these new features play an important role, we are especially excited to be able to provide the functionality for our users to invoice all their clients with just one click. And, with the templates provided within the product, they are really able to still make their emails look and feel personalized.” 

CosmoLex was officially launched to the legal industry in late March and has since signed on many new users and has received positive feedback from industry thought leaders, veterans and experts.