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The software is user-friendly, offers plenty of useful feature modules, and is highly affordable. The free version is free forever and has plenty of invoicing and accounting functions. As much as I love spreadsheets and numbers, bookkeeping is an unavoidable task that takes time and energy.
You can even automate everything with auto-billing and automated payment reminders. CosmoLex is a cloud-based law accounting software law firm bookkeeping that’s part of the Tabs3 family. It comes with built-in trust accounting tools, so you don’t have to use any additional software.
Growing your business is important
Accountants rely on bookkeepers to keep accurate and timely financial statements. Whether you do the bookkeeping yourself or outsource it to a professional, it’s a crucial task. It’s not as dire as comingling your business and trust accounts, but it’s a slippery slope toward unorganized accounting.
She uses a variety of accounting software for setting up client information, reconciling accounts, coding expenses, running financial reports, and preparing tax returns. She is also experienced in setting up corporations with the State Corporation Commission and the IRS. Bookkeeping is an administrative task that involves recording all of the law firm’s business transactions and reconciling and balancing the firm’s financial accounts. It’s very important to establish separate bank accounts in a legal accounting system. Under no circumstances should you ever mix personal and business expenses.
Accountant or CPA
Email reports directly to clients, banks, partners, or equity members. We’ve partnered with some of the industry’s top time and billing, expense, and case management solutions partners. We want to help you achieve maximum billing efficiency and increase your overall profitability with the best law firm accounting software.
