Our third-party bills tool lets you add, edit, and delete your third-party bills. This helps you manage these bills to ensure proper payments from trust, accurate trust reporting, and quick, reliable reporting in the Matter Cost Statement. Add a Third-Party Bill To add a third-party bill: From the left navigation panel, click Matters. On the Matters …
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.
When you switch trust banks, you also transfer funds from the old account to the new at the matter level with a Matter to Matter Internal Trust Fund Transfer.
Utilize our Low Retainer Reminder tool to monitor low retainer balances, commonly referred to as evergreen retainers, and generate replenishment reminders for clients.
From the navigation panel, click Banking. On the Banking screen, double-click on the relevant bank account.
Employ the inherent trust safeguards to guarantee compliance with each recorded transaction. Nevertheless, be aware that there are specific safeguards that you have the option to override.
Ensuring accurate reconciliation of your account statements involves tracking the transactions related to Interest on Lawyer Trust Accounts (IOLTA) if your bank credits interest to your trust account and it reflects on your statements.
You can edit, delete, or void a trust transaction. From the left navigation panel, click Banking. Double-click on the Trust Account bank and scroll down to review the specific details of the selected Trust account.
With our matter-to-matter internal transfer tool, you can transfer funds between: Trust accounts for the same matter and client Operating accounts for the same matter and client
Attorneys commonly maintain a small sum of personal funds in their trust account, known as a personal buffer, to address bank fees and other associated incidentals. Important: It’s crucial to verify the regulations in your jurisdiction, as the allowable total funds in trust for this purpose may vary.
