Release Date: August 30, 2015
NEW FEATURES & ENHANCEMENTS
INTEGRATED CREDIT CARD PAYMENTS PROCESSING
With version 3.1 release, CosmoLex’s now includes fully integrated credit card processing (with LawPay®). CosmoLex gives you an end-to-end solution that begins with charging the card and flows through to all the associated bookkeeping adjustments -- without you juggling between multiple systems and duplicated data entries.
Credit Card Payments: Payments In The Office
With proper authorizations, you can charge your client’s credit card within CosmoLex for Initial Trust Retainers, Fee Prepayments, Ongoing Invoice Payments. As you charge, CosmoLex will automatically update balances, mark invoice as paid (if invoice payment) and create of deposit transactions in the bank. You can also locate deposits off credit card payments easily and identify credit card used for better customer service.
Credit Card Payments: Online Payments
You can also include an Online Payment link in your CosmoLex invoice templates and customer can pay online. As your clients pay online, CosmoLex will automatically update with invoice marked as Paid and creation of deposit transactions in the bank.
Credit Card Payments: Refunds Processing
You can also void previously created deposit transactions and refund funds back to client credit cards.
Credit Card Payments: Daily Batch Processing
Merchant deposits are always batched -- meaning multiple client payments of the day are pooled into a single bank deposit. This can be a daily bookkeeping headache if you run separate billing and business accounting systems. In CosmoLex, you can simply make a batch (deposit slip) as well and reconcile with received funds. A simple, one-click process eliminates all the worries!
Credit Card Payments: How To Get Started
- Existing LawPay customer, connect your account with CosmoLex under “Setup->Firm Settings->Apps”.
- To open a new LawPay account visit https://lawpay.com/cosmolex/
OTHER FEATURES & IMPROVEMENTS
Hard Cost v/s Soft Cost Expense
For proper legal accounting, it is critical to separate out matter cost in “hard cost” vs “soft cost” categories. CosmoLex now forces you to make this choice at the time of Expense entries to minimize enteries under wrong categories. To support this implementation, Expense button at all points now has two options.
Timer improvements in Time Card Screen
Timer function in the Time Card entry screen is enhanced and now you can pause and restart without loosing previous time logged.
CosmoLex Gets Even Faster
As it is, CosmoLex runs much faster than other web application. With recent changes, you should experience even faster loading and application use.
- Address book section now shows Phone Number, Email on main page
- Around 50 minor and major enhancements, issues resolutions