CosmoLex Covers All Your Accounting Needs – On the Cloud!
Canada Compliant Law Firm Accounting!
Canadian law firms know the importance of having practice management software that includes robust accounting. They also know that today’s law firms need to be on the Cloud. But leading Cloud programs like Clio require a separate program like QuickBooks to handle your accounting. That was until CosmoLex launched its Canadian version.
CosmoLex Canada includes comprehensive, current & compliant bookkeeping for your entire firm. Built from the ground up to handle Canadian accounting requirements, CosmoLex makes it easy for your law firm to meet CRA & Law Society rules. All within CosmoLex itself — you don’t need QuickBooks.
Integrated Accounting Streamlines Your Entire Practice
Accounting is built-in, right alongside practice management & billing. That means practice management, billing & accounting update each other in real-time. There are no failed imports or exports, no frustrating reconciliations, and never a need to re-enter any transaction more than once. Working in CosmoLex Cloud saves an enormous amount of time — and eliminates most errors from ever occurring in the first place!
Automatic Business Accounting
Everything you input into practice management & billing flows automatically onto your general ledger. CosmoLex does all of your bookkeeping — automatically, in the background, in real time.
Accrual-based, general ledger accounting
Canada-specific, customizable Chart of Accounts
Accurate handling of hard & soft matter costs
Invoice payments automatically allocated to the proper general ledger accounts
Sophisticated revenue distribution
Electronic bank statement imports
Electronic bank statement imports — with auto-reconciliation!
Cheque printing, deposit slips & bank reconciliations
Comprehensive management & financial reports
Compliant Trust Accounting
Never worry again about passing your next Spot Audit. CosmoLex keeps you always current & always compliant — with comprehensive trust accounting that:
Manages individual client ledgers
Accurately debits trust funds to pay client invoices
Prevents common trust mistakes, such as ledger overdrafts or co-mingling
Prints disbursement cheques
Generates a comprehensive set of trust recordkeeping reports