CosmoLex Review, Pricing & Features

CosmoLex Review, Pricing & Features

CosmoLex is a popular legal practice management solution used by thousands of law firms.

Pros

  • CosmoLex includes a built-in legal-specific accounting suite
  • CosmoLex is ideal for law firms that prefer working with less software vendors
  • CosmoLex does not enforce long-term contracts

Cons

  • CosmoLex is not ideal for law firms that use third-party accounting software
  • CosmoLex does not include client intake forms
  • Documents and files stored in CosmoLex can not exceed 100mb

Analyst's Rating

82

What is CosmoLex?

CosmoLex is a popular legal practice management solution used by thousands of law firms. CosmoLex is typically used by small to medium sized law firms. CosmoLex offers features that include a dashboard, document management, time tracking, accounting, and reporting.

Try CosmoLex Today

Table of Contents

CosmoLex Review Summary

CosmoLex was founded by Rick Kabra in 2012. Today, this solution is used by thousands of law firms nationwide.

CosmoLex includes features that help legal professionals automate common tasks and grow their law firms. These features include a dashboard, document management, time tracking, accounting, and reporting.

CosmoLex is generally used by small to medium sized law firms. CosmoLex’s pricing ranges from $79 to $89 per user per month depending on the type of subscription you choose.

CosmoLex is ideal for law firms that prefer using one solution for both their practice management and accounting needs. However, if your accounting team is not familiar with CosmoLex’s accounting suite, this solution will take longer to implement than some of its competitors. If you prefer integrating your legal practice management solution with a third-party accounting solution, consider testing Clio Manage or PracticePanther.

CosmoLex Pricing & Cost

CosmoLex pricing ranges from $79 to $89 per user per month. CosmoLex charges $89 per user per month for annual contracts, and $79 per user per month for monthly contracts.

CosmoLex Features

Below, we'll discuss the key features of CosmoLex, and how they can streamline your workflow and automate many of your day-to-day tasks. We include screenshots of the product to give you a sense of its design and layout.

Dashboard

CosmoLex offers a dashboard that visualizes important data and increases visibility into your law firm’s performance. The dashboard consists of modules that highlight key items that you should monitor on a daily basis. Here are some of the modules included in the dashboard:

  • Balances
  • Billing summary
  • Operating & trust retainers
  • Overdue & unpaid Invoices
  • Timekeeper utilization
  • Top 5 clients
  • Unbilled time & expense cards
cosmolex dashboard image

Case Management

In CosmoLex, you can track and manage critical information for your case and matters. Here are some of the items that you can link to your matters in CosmoLex:

  • Banking
  • Billing
  • Calendar
  • Conversations
  • Contact information
  • Documents
  • Emails
  • Notes
  • Relationships
  • Tasks
cosmolex manage case management overview image

Contact Management

CosmoLex allows you to track and manage your contacts. The type of contact information you can store in CosmoLex include:

  • Account information
  • Addresses
  • Balances
  • Notes
  • Phone numbers
  • Primary party information
  • Relationships
  • Retainers

Calendar

CosmoLex includes a calendar that helps your law firm track and manage important tasks and deadlines. CosmoLex’s calendar functions similarly to other calendar software you may have used. You can create calendar events with locations and descriptions, and send invites to firm members that will automatically populate events on their calendars.

cosmolex calendar image

Using the workflows feature, you can automatically populate calendar events based on court rules. In the workflow module, you can input tasks, and add due dates relative to deadlines after work begins on a matter.

cosmolex calendar workflow image

Task Management

CosmoLex allows you to track and manage tasks and activities. You can link tasks to specific matters, and assign tasks to relevant firm members. You can also add billing statuses, estimated hours, priority levels, and due dates to each task.

cosmolex task management image

You can create custom workflows that standardize common tasks for cases that have similar patterns of deadlines. You can create task list templates that include the following items:

  • Assignee
  • Due Date
  • Priority
  • Task
  • Task Description
cosmolex workflow image

CosmoLex includes automated task reminders that will send your firm members emails at specified time intervals. Additionally, you can configure email notifications to be sent once tasks are completed.

Document Management

CosmoLex includes document management features that help law firms store, view, and share critical files. You can associate files to specific cases, and organize documents into folders. Files can be viewed directly in CosmoLex, or downloaded to your computer. CosmoLex allows you to add comments to files, and document version control allows you to track duplicate entries & restore previous document versions.

With CosmoLex’s document assembly tools, you can create templates for commonly-used documents. You can create custom fields in the document templates that will automatically merge relevant information from your database.

Although CosmoLex offers unlimited data storage, each file can not exceed 100mb. To store larger files, you will have to integrate CosmoLex with a third-party document management solution.

cosmolex document management image

Time and Expense Tracking

With CosmoLex’s legal time and expense tracking software, you can easily capture billable hours. You can create time entries using a timer that is located on the top toolbar in the solution. You can attach these corresponding items to any time entry that you create:

  • Billing status
  • Client matter
  • Description
  • Task
  • Time keeper
cosmolex time tracking image

Billing and Invoicing

CosmoLex offers billing and invoicing tools that streamline the payment collection process. CosmoLex includes the following billing methods:

  • Contingency
  • Flat fee
  • Hourly

Once you have created a bill, you can generate invoices, and send them to your clients via email. These emails include a link to an online payment portal where your clients can send payments electronically. Here are the types of payments you can apply to an invoice:

  • Check
  • Cash
  • Credit card
  • Trust retainer payments
  • Operating retainer payments

Online Payments

CosmoLex allows you to accept payments from your clients electronically through its integration with LawPay. CosmoLex waives LawPay subscription fees. In general, LawPay charges your clients a 2% to 5% fee per transaction.

Online Client Portal

CosmoLex’s online client portal allows you to securely communicate with, and send files to your clients. Also, clients can send payments electronically through this portal. Items your clients can access in the online client portal include:

  • Documents
  • Events
  • Invoices
  • Messages
  • Notes
  • Tasks
cosmolex online client portal image

Mobile Application

CosmoLex’s mobile application allows you to remotely access this solution’s core set of features. These features include:

  • Calendar
  • Contact management
  • Dashboard
  • Matter management
  • Notes
  • Task management
  • Time and expense tracking

Accounting

CosmoLex is equipped with a full accounting suite. Here are some of the included features in CosmoLex’s built-in business and trust accounting suite:

  • Accounts payable tracking
  • Automated fee distribution
  • Automatic invoice payment allocation
  • Bank reconciliation
  • Check printing
  • Financial reporting
  • General ledger
  • Revenue distribution calculations

Reporting

Reporting in CosmoLex increases visibility into your law firm’s performance. Reports that you can generate in CosmoLex include:

Accounting
  • Accounts receivable
  • Balance sheet
  • General ledger
  • Profit & loss
Banking
  • Bank activity report
  • Cash disbursement journal
  • Cash receipts journal
Billing
  • Client billing balance
  • Invoice status report
  • Timekeepers time report
Collection
  • Fixed fee billing reconciliation
  • Insufficient retainer balance
  • Matter with receivable & retainer balance
Class-based reporting
  • P&L by area of law class
  • P&L by matter custom class
  • P&L by matter owner class
Financial productivity
  • Billing by matter owner
  • Collected fee allocation
  • Collection by timekeeper
Matter activities
  • Client list
  • Client transactions
  • Matter transactions
Tax collection and payments
  • Billed and collected sales tax
  • Paid taxes report
Trust
  • Trust ledger activity summary
  • Trust ledger balance
  • Trust ledger transactions

Integrations

CosmoLex integrates with a variety of third-party solutions. Here are some of the integrations that CosmoLex offers:

  • Apple Mail
  • Box
  • Casemaker
  • Chrometa
  • DropBox
  • Gmail
  • Google Calendar
  • Google Drive
  • LawPay
  • Microsoft Outlook
  • NetDocuments
  • Office 365
  • OneDrive
  • Yahoo Mail

CosmoLex Alternatives & Competitors

CosmoLex competes with a variety of legal solutions that offer similar functionality. The best choice for you will depend on your budget and feature preferences.

CosmoLex's top competitors are:

Is CosmoLex Right For You?

CosmoLex is a legal practice management solution used by thousands of law firms. CosmoLex is most often used by small to medium sized law firms. This solution offers a variety of useful features including a dashboard, document management, time tracking, accounting, and reporting.

If you prefer working with less software vendors and desire a solution with built-in accounting, then CosmoLex is a good option for your law firm. If you desire a solution that includes client intake and CRM tools, PracticePanther is best for you. If you need a solution that offers a high volume of third-party integrations to accommodate a complex tech stack, consider testing Clio Manage.

If you're interested, you can try CosmoLex today.

Lloyd Park

Lloyd Park is a Research Analyst at SoftwarePundit, where he conducts in-depth analyses of software markets and products. Lloyd also has experience managing the development of software platforms and is an expert in content production & media software.

Lloyd is an expert in several software categories including:

  • Dental software
  • Email marketing software
  • Field service management software
  • Legal software
  • Property management software

He can be found on LinkedIn here.