Record an Invoice Payment
This article outlines how to record an invoice payment via check, cash, & other methods. You can record an invoice payment to one or more invoices for a particular client.
Payments
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Record an Invoice Payment by Credit Card
Through Integrated Payment You can use CosmoLexPay integration to process credit card payments.
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Record an Invoice Payment by Trust Retainer
You can pay invoices from your trust retainer in two places: Matters (for a single matter) Billing (for single and multiple matters)
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Record an Invoice Payment by Operating Retainer
If your jurisdiction allows, you can deposit a retainer in your operating account and pay invoices from it. You may also have a credit due to returned funds, or a recovered overpayment.
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Record an Invoice Payment by ACH/eCheck
You can use CosmoLexPay (U.S.) to process ACH/eCheck payments. With this integration, your client can also submit their payment using the link within their invoice or from within the client portal, if this invoice has been shared. From Matters In-office ACH/eCheck payments are processed for one matter at a time through Matter Details. To process an ACH/eCheck payment: From the …
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Manage Recurring Payments
Using Recurring Payments allows a firm to offer more flexible payment options to their clients. You can give your clients a payment plan that lets them pay your firm in instalments on a mutually agreed upon amount and frequency. Since the system will automatically collect the amount on the specified date, it frees you from …
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Set Up Online Invoice Payments
By using our CosmoLexPay or LawPay integration, your clients can pay their invoices online by:
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Using Integrated Payments
When applying an invoice payment or retainer deposit in CosmoLex, you are able to not only record the transaction, but process it as well through the ‘Integrated Payments’ option. Integrated Payments allows you to process payment via various electronic payment options.
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Set Up Your CosmoLexPay Account (US)
CosmoLexPay is our built-in payment processing service that allows you to:
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Set Up Your CosmoLexPay Account (Canada)
What is CosmoLexPay? CosmoLexPay is our built-in payment processing service that allows you to: Receive an online credit card invoice payment through an emailed link or our client portal. Request an online credit card trust payment via an emailed link. Process credit card trust deposits or invoice payments in-office or over the phone. Access your CosmoLexPay portal directly from …
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Accessing Your CosmoLexPay Portal
CosmoLexPay is CosmoLex’s built-in payment processing service. To access the portal, your firm admin must first set up the CosmoLexPay account. Once the account is set up, if your firm admin has granted you CosmoLexPay permission
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Surcharging with CosmoLexPay (US Only)
When utilizing any payment processing company to accept credit cards, there are per-transaction processing fees. With the increase in credit card usage, small firms especially may look to pass those fees onto their clients. With CosmoLexPay (US), you have the option to set up your
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Integrating LawPay
CosmoLex provides payment processing service with CosmoLexPay (U.S.) as well as our LawPay integration (U.S. & CA) These integrations allow you to: Receive an online payment through an emailed link or our client portal. Request an online trust retainer via an emailed link. Process retainers or invoice payments in-office or over the phone. Note: The LawPay integration …
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Request an Online Trust Retainer Payment
For added convenience, we provide the option to email a request for trust replenishment which includes a link for payment. When utilized, funds will be deposited into your trust account, and all trust records will be updated within your CosmoLex account.
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Using Your Embedded Payment Link
If you are using CosmoLexPay or the LawPay integration, you can now create a global payment link per bank account. This link can be embedded in your Law Firm’s website to accept online payments from your firm’s clients, or used in Email signatures. Note: To use this feature, your CosmoLex account must be integrated with …
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Transaction Summary
A deposit summary provides a record of all transactions linked to deposit slips, and it also allows you to generate a report for each specific transaction if needed.
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CosmoLexPay Deposit Reporting
From CosmoLex, you can log into your CosmoLexPay online portal and review payment details for each transaction that is included in your deposit. With this feature, you can better track your individual transactions and deposits. This is especially useful for reconciling payments with your accounting software. Viewing Payment Details From the main navigation panel, click Account. From the Account left …
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Saving Client Payment Information
This feature is available only with CosmoLexPay (US) and CosmoLexPay (Canada). To reduce payment friction associated with entering client payment information, firms and client portal users can now securely save and reuse payment methods for both credit cards and ACH/eCheck methods. Creating Payment Profile Note: You can only manage saved payment methods for default operating bank linked with CosmoLexPay. You …
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Allocate Partial Payments
With our streamlined payment screen, when entering payments, you have the flexibility to allocate partial payments: By fees By invoice components including cost (hard and soft cost expenses), discount, and overhead charges And write-off remaining balances Watch a Video Allocating Partial Payments by Timekeeper To allocate partial payments to each of the timekeepers assigned to …