CosmoLex is a cloud-based legal management software that offers advanced features and fully-integrated applications for an all-in-one solution. Named TechnoLawyer Newswire’s Top 25 Product of 2014, it includes time tracking, billing, trust (IOLTA) accounting, calendaring, task and document management in the software suite.
Because CosmoLex is a comprehensive system, firms are able to focus their information in one location, improving efficiency and productivity in the day-to-day. Everything is connected, so there is no need to enter information into multiple systems or clean up errors due to double-entry. Activity is automatically assigned to it’s specific legal matter, keeping tasks and time connected. This offers complete visibility over the outstanding bills and balances so that nothing slips through the cracks.
Trust (IOLTA) accounting functions are include in the system. They help manage client funds and print checks, deposit slips, and bank statements. The activity log keeps detailed information on past reconciliations, and three-way reconciliation reports are available on a monthly basis.
The document management in CosmoLex organizes digital records and files so they’re easy to locate. It currently integrates with Dropbox, but the team at CosmoLex is also building integrations to GoogleDrive and NetDocs.
Since CosmoLex is web-based, it can be accessed from a browser on any internet secure device. They’re a great fit for smaller and solo practices across a variety of segments.
Ryan from Sudduth & Associates
Great customer service and easy to learn the product.
The design templates for invoices are difficult to adjust.
This software was created for lawyers, not accountants. So if you're an accountant working in a law firm, you'll probably not like this.
Dean from The Guidry Law Group
I will not have use PClaw anymore and its exorbitantly expensive subscription pricing scheme.
One cannot search documents or folders. If this feature were implemented I would convert to Cosmolex immeditately.
I recommend anyone considering this product email to customer support that documents and folder searching features be implemented as soon as possible.
Bill from Billy J. Shetfield II Attorney At Law
Trust Accounting and invoice are nice. I like time keeper.
Calendar and dropbox sync have several bugs that don't seem to be getting resolved. Too many steps. Search names and matters is not as easy as Rocket Matter.
I was very happy with Rocket Matter. However, the billing, trust accounting and invoicing were very frustrating and clients did not like billing. Cosmolex is much better that RM in these areas. However, Cosmolex has major bugs that are frustrating in calendar and dropbox sync. I cannot trust calendar in Cosmolex and support is not very helpful. I would stay with RM if they could have Cosmolex trust, invoicing and billing. I would wait six months and see which app resolves these issues before I would commit.
Pete from Weinman Law Offices
Specialty: Real Estate
My practice is focused primarily on residential real estate in NY and NJ and I represent a lot of lenders, so I have been relying upon Easy Soft’s hud-1 program and their billing/trust accounting program for years, so when I learned about everything CosmoLex had to offer, I was excited to jump in.
What really separates CosmoLex from the others is that it’s completely cloud based and also offers a full IOLA/IOLTA accounting system. I’m able to login from the office, from home, and even on the road from my smart phone to add billable events, log and print checks, or search for anything I need.
Because I’m a sole practitioner, I don’t have an IT department to help me install/upgrade my programs and the people at CosmoLex actually converted my existing data and had me up and running in about 15 minutes. Knowing that my data (and the programs) are off-site means less to worry about if and when a computer at my office should fail - and not having to worry about re-installing and restoring data (just knowing that it’s always safe and ready to access) makes sleeping at night a little easier.
The controls are intuitively setup and searching for matters by client or other keyword or searching transactions by dollar amount, etc., could not be easier. I’ve already watched some of their online tutorials and when those did not help me understand something, I contacted tech support for personalized support and training that did the trick every time!
Nothing comes to mind so far. It's everything I need.
Spend a few dollars and invest in this product - and you'll see how the time you save will be worth it.
William from Law Office of William C. Mack
It simplifies New Jersey lawyer's trust accounting, and gives me the assurance that I am recording trust transactions accurately and producing reconciliations in accordance with applicable court rules.
I have not found anything to dislike about this application.
Cosmolex is expanding its capabilities rapidly beyond just a trust accounting application, and becoming a full-featured small law firm management program. It's "bang for the buck" will continue to increase.
Herbert from Herbert F. Lach, Jr., Attorney at Law
The customer support. The tutorials are easy to understand and follow. I don’t give compliments very often, but I cannot say enough good things about the great work the CosmoLex Team does to make my life a lot easier.
I cannot think of anything I like the least about CosmoLex.
I think customer support is the most important factor.
Charles from Charles V. Quinn Law Offices, L.L.C.
The software is a great timekeeping, billing, and accounting solution for my firm. The cloud-based aspect means it can be accessed from any computer (or smartphone I suppose, although I have not tried that yet), and I don't have worry about downloading updates. Support and staff are excellent; they are very knowledgeable and attentive! This was just what I needed to help start my own firm.
I honestly don't have any problems with the program. It works well for what I need. I anticipate that my taxes will be easy to do this year, since I have used CosmoLex to produce the required reports of revenues, expenses, etc. I have the reports downloaded, printed, and ready to go to the accountant.
In evaluating cost, I would remember that some programs require the purchase of updates. I believe CosmoLex charges a flat fee (I am on an annual plan) that automatically includes all updates. I believe they have a free trial period, too.