When it comes to making sure you get paid for all the work you do, CosmoLex legal timekeeping & expense tracking software leaves no stone unturned. Don’t let your income fall victim to a faulty memory ever again! Enter dockets & expenses on the go — from anywhere — via your mobile device. As a final safeguard, the CosmoLex “Money Finder” automatically scans your practice management records for tasks & events that are unbilled and — posting alerts on your CosmoLex Dashboard. It’s all within CosmoLex, so you can assign these “lost” items to the appropriate invoice instantly.
Without a clear activity context, generic (i.e., “misc.”) billing entries are often a source of client frustration & fee disputes. To clarify the situation, CosmoLex lets you enter timecards attached to the proper activity category. This ensures that all billable items get billed — and makes it easy for you to locate supporting activities (such as email correspondence) in case of any confusion or dispute.
Account for Hard & Soft Costs
Most Canadian law firms typically spend money first — as disbursements — and then wait months to collect your fees & awards. The only thing worse than not getting paid your fee is not getting reimbursed for real costs that you incurred — the ones that didn’t make the invoice. Thanks to CosmoLex’s built-in, Law Society compliant accounting, you can instantly post your hard & soft costs as soon as they’re incurred — whether by cash, cheque or credit cards.
Legal fees & costs are taxable in Canada. But rates vary. Medical records may have different rates than photocopy charges. A few items might be tax exempt entirely. CosmoLex tracks the taxability of each item in real time so data gets entered correctly at the outset. Trying to figure out taxes when doing month-end billing is a tedious task — not the CosmoLex Way!
Fast Time Dockets Across Matters
Between phone calls, emails, and other interruptions, lawyers often need to juggle multiple matters that all need attention. With CosmoLex you to open a single timesheet with timers that track time for each matter on the fly. The same timers are on your Mobile App — wherever you are CosmoLex keeps your “clock ticking!” Of course CosmoLex makes sure that only one timer can be active at a time. These features make time & expense entries faster — and much more accurate.
CosmoLex Covers Your Overhead
You may forget about your fixed overhead expenses, but CosmoLex remembers for you. CosmoLex legal expense tracking software makes it easy for you to allocate & cover your overhead expenses — exactly the way you want. You can configure an overhead charge as a percentage of time cards, expense cards, or both. The feature is very handy if your firm has a policy of including a fixed percentage overhead charge based on time or expense cards on an invoice.