When it comes to legal accounting it is important to understand that not all funds are the same. Attorneys deal with two major types of bank accounts: operating accounts and trust accounts.
In most situations operating accounts contain funds that belong to the firm. This means all of the funds in this operating account have been earned by the firm in some fashion, and recognized as income after all other liabilities have been paid and accounted for.
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There isn’t anything I don’t like. Easier timekeeping and keeps the books straight because they have to match up…we switched because it includes bookkeeping and timekeeping in one program.
Rebecca Norton | On Point Legal, Louisiana
We needed to find an alternative solution to PCLaw, as we were moving to a cloud-based system. It appeared the employees at CosmoLex had more experience in migrating the data from PCLaw to CosmoLex.
Andrea C. Kryszak | Kryszak & Associates, Co., LPA
Using a third-party platform for accounting didn’t make sense anymore…conflict check approach is good and I like the ability to handle my accounting within the case management software.
