Release Date: May 20, 2016
NEW FEATURES & ENHANCEMENTS
LEDES 1998B EBILLING
Fully integrated electronic billing (Ledes 1988B) capabilities. User can enable/disable major code groups (Bankruptcy, Counselling, eDiscovery, Litigation, Project, Patent, Trademark) at the Firm or Matter level. CosmoLex also gives full control for adding or restricting LEDES codes at the firm or matter level.
UTBMS TASK MANAGEMENT CODES (THE ABA STANDARD)
UTBMS codes are now supported in this new release. These can be used in conjunction with eBilling or as stand-alone codes.
SYSTEM EMAIL COMMUNICATION LOGS
ALL emails sent by you within CosmoLex (such as invoices, reminder notices, etc.) are now automatically recorded to a log and tagged by matter. These could be located under “System Email” tag in the Email section. This automated archival allows for a thorough review of communication history in case of any doubt, dispute, or audit.
ONLINE TRUST RETAINER COLLECTION
The CosmoLex/LawPay integration has been enhanced to handle online credit card payments to fund client retainers (in addition to invoice payments.) You can simply send a trust retainer payment email from Matter landing page. All credit card payments automatically post to the correct bank account and are always ready for batching & reconciliation.
FEE INCOME DISTRIBUTION
Collected fee income can now be distributed based on parties’ roles (such as billable contribution, originating attorney, responsible attorney, etc.) User can set global distribution % or specify unique values for each Matter. A new "Collected Fee Income Allocation Report" can be used for productivity measurement, facilitates fee allocations, and more.
CUSTOM LABELS & GROUPING/CATEGORIZATION
All Practice management items such as events, tasks, emails, notes, etc. can now be organized under user defined labels such as “Client Discussion” or “Discovery” within each matter. Matters can be labeled by practice areas and new labels can be created on-the-fly. This will help in better organization of details for complex client matters and searching.
AUTOMATED EMAIL INBOX MANAGEMENT
As Emails are “labeled” in CosmoLex, they would automatically move out from Inbox and kept under the Label folder. If Label is removed, they would be back in Inbox. This will allow Inbox to be kept empty, ready for new incoming emails for matter tagging and labeling.
AUTOMATED ITEM NUMBERING
All Practice management items such as Matters, Timecards, Expensecards, Tasks, Notes, etc. are assigned auto-generated integer numbers and displayed in the grids. This automated numbering will help in better organization, identification as well as searching.
- Unbilled time or expense cards can now be assigned to another matter if it was created for a wrong matter to begin with.
- Time & expense card entry screens are further simplified.
- Around 10 other Major and Minor issues got resolved.