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Business Accounting

Comprehensive business accounting support for CosmoLex

How to Track Credit Card Expenses
Checks and cash payments, of course, are tracked along with your operating bank, but a credit card is an entity all on its own. To track those transactions,...
Mon, 21 Aug, 2017 at 5:54 PM
How to Post Payment of my Credit Card Statement
In CosmoLex, we added a bank type: Credit for you to use to keep track of your credit card expenses. For help on importing these transactions, view this art...
Mon, 21 Aug, 2017 at 5:57 PM
How to Transfer Money From One Bank to Another
If you did an internal transfer from one bank to another. Go to the bank account the money is being moved from (Accounting > Bank>Details) Add a tr...
Sun, 15 Apr, 2018 at 8:11 PM
Transfer Operating Retainer Funds to Trust Account
There are times when a client would like to have their operating retainer funds transferred to their trust account.  To do this, you would first need...
Thu, 10 May, 2018 at 12:27 PM
How to Generate 1099 Eligible Payee List
Note: You can e-file 1099 MISC Form from Cosmolex by clicking HERE Additionally, we only total disbursements. If for any reason, payment was refunded and w...
Wed, 17 Jan, 2018 at 9:18 AM
How to Enter Payroll
At this time, CosmoLex does not integrate with any Payroll providers, however, the program includes all of the Chart of Accounts Necessary to make your payr...
Tue, 22 Aug, 2017 at 9:38 AM
Fee Allocation
Law firms often compensate their partners,  of-counsel and at times staff members based on their contribution to fee income. Collected funds are distributed...
Thu, 10 May, 2018 at 12:33 PM
How to Account for Rebates in Credit Card Statement
There are times where you need to reflect a cash back credit on your credit card statement for office supplies, computer equipment purchases, etc. These are...
Tue, 22 Aug, 2017 at 9:48 AM
How Can I Calculate Distribution of Income?
For many practices, income distribution is very important. You may have several associates, or perhaps consultants who might be commissioned based on the in...
Tue, 22 Aug, 2017 at 9:49 AM
How To Create a Custom Chart of Account
Chart of Accounts help categorize your Accounting entries by type, giving you the ability to run valuable reports such as Profit and Loss, Balance Sheet and...
Thu, 10 May, 2018 at 12:42 PM