Someone once said, “The secret of change is to focus all of your energy not on fighting the old but on building the new.” While this is undoubtedly good advice for life, it’s also a nugget of wisdom that legal professionals can benefit from when evaluating their payment practices in 2024. If your firm has been relying on old-school payment … Read More
The Future of Law Firm Billing: How to Streamline Your Practice with CosmoLex and CosmoLexPay
Billing is the heartbeat of any practice. It’s how you keep the lights on (or the computers if you’re remote or hybrid), your team paid, and your firm thriving. But traditional manual billing processes are time-consuming, error-prone, and a major burden on you and your administrative team. The good news is that there’s a solution that can make billing a … Read More
Your Firm Website as Part of Your Practice Management System
In today’s tech era, your law firm’s website is more than just a digital billboard for your practice—it’s your very identity online. In fact, you could say you ARE your website. So why settle for a mere online presence when your website can be a powerhouse tool that seamlessly melds with every aspect of your practice? From lead generation to … Read More
Simplify Year-End Accounting: 4 Tips to Optimize Your Accounts Payable
The new year can sneak up fast, so it pays to make a plan to tackle those eleventh-hour tasks now instead of waiting until the last minute. After all, the end of the year should be a time of relaxation and restoration, not a time to burn the midnight oil while drinking endless cups of coffee at the office. Get … Read More
How Legal-Specific Accounting Software Helps Lawyers
As a law firm owner, you’re no stranger to the complexities of running a practice. You’ve got a million things on your plate, and accounting is just one of them. It’s easy to think your current business accounting software is doing the job just fine. But the truth is, legal practices have unique needs that standard tools often overlook. We … Read More
Accounting for Lawyers: Six Basic Concepts You Should Know
In the fast-paced world of law, managing the financial intricacies of a practice can often feel like being cross-examined by a particularly aggressive opposing counsel. In other words, stressful. But just like you can’t disregard questions from the opposition, you can’t ignore accounting either. Your law firm’s accounting isn’t an optional activity: it’s vital to your firm’s success, profitability, and … Read More
Common Compliance Challenges for Law Firms and How to Overcome Them
Let’s face it, most legal professionals don’t wake up in the morning excited to run to the office and tackle their accounting. Instead, you probably studied law so that you could help people and make a difference in the world, resolving problems and delivering results for your clients. Tracking transactions and crunching numbers? Not so much. On top of that, … Read More
Get Going and Keep Growing with Lawyer’s Business Suite from CosmoLex
Running a law firm in the digital age poses unique challenges. From attracting new clients to managing your leads, cases, time, billing, and accounting, a successful law firm needs more than just a team of skilled lawyers. It requires effective systems in place to ensure smooth operations. Fortunately, there’s a solution that can streamline these processes and accelerate your firm’s … Read More
Four Signs Your Law Firm Needs Legal-Specific Accounting Software
When it comes to software solutions that law firms can use to meet their accounting needs, there are a seemingly endless number of options. The issue, though, is that not all of these solutions are designed to meet the unique needs of those in the legal field. While you can use a hodgepodge of industry-agnostic accounting tools to get the … Read More
Back to Basics: Legal Accounting vs. General Accounting
When it comes to keeping accurate records of your law firm’s accounts, it’s essential to make sure you’re using tools for the job that give you a clear picture of your firm’s performance and meet your legal, regulatory, and ethical requirements. Many firms, however, use outdated accounting methods or an assortment of industry-agnostic tools that don’t account for the unique … Read More
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