Automated Revenue Distribution
Law firms often compensate their partners, or staff members, with pro-rated fee/award distributions based on an individual’s contribution to income. Accurate distribution calculations can be complex — with multiple components such as costs, charges or fees from multiple sources. Some distributions are paid in installments. The distribution percentage may vary from matter to matter. CosmoLex automates these complex calculations 100%. All you need to do is specify the distribution percentage for billers, as well as for various matter parties (originating lawyer, matter owner, working lawyer, etc) and generate the report.
CosmoLex provides itemized invoice-by-invoice breakdowns, along with summaries by invoice, matter owner, or individual parties.