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CosmoLex's Bank Data Feed Automatically Downloads Checking, Trust, and Credit Card Transactions

By TechnoLawyer | Thursday, February 16, 2017

Today's issue of TL NewsWire covers practice management and legal accounting software that can download bank and credit card transactions for faster reconciliations (see article below). In addition, you'll find links to the previous 11 TL NewsWire features, including our coverage of practice management software with a Dropbox-like mechanism for sharing files with clients, software for managing trademarks and other IP assets, practice management software for personal injury lawyers, and much more. Don't miss the next issue.

Online banking is a modern marvel we all take for granted. However, reconciliation remains a tedious process. PDF bank statements may save trees but they don't save time. Instead, your legal accounting software should be able to download transactions directly from your bank on daily basis.

CosmoLex v4.6 … in One Sentence

Launching this week, CosmoLex v4.6 is cloud law practice and financial management software that securely retrieves checking, trust, and credit card account transactions.

The Killer Feature

CosmoLex's new Bank Data Feed technology integrates with all major banks, more than 2,000 community and regional banks, and credit card providers such as Chase and Citibank. Login verification occurs directly with each bank. Role-based permissions enable you to restrict user level access to Bank Data Feeds as well as other areas of CosmoLex for internal security.

You can review and accept transactions one at a time or in bulk from a Bank Data Feed instead of entering them manually. This may make sense for credit card statements. You can assign transactions to matters or a general ledger account.

For bank and especially trust accounts, you can instead use the Bank Data Feed for daily reconciliation. CosmoLex automatically matches the transactions your staff has entered with those from the Bank Data Feed and identifies any discrepancies.

"We identified an inability to utilize bank data feeds as a glaring weakness across the law practice management industry," says Rick Kabra, CEO of CosmoLex. "This new functionality is another example of how we continue to separate ourselves from the rest of the industry. Giving firms the ability to automatically import bank data feeds increases the value of our offering exponentially."

Other Notable Features

As Kabra intimates, CosmoLex offers general ledger and trust accounting, which obviates the need to use general accounting software. The CosmoLex Accountant Program enables your accountant to use CosmoLex for free. CosmoLex works with QuickBooks formatted checks (the company also sells its own line of checks). Financial data permeates the software. For example, the Matters Dashboard lists unpaid balances, unbilled balances, and available client advances whether in trust or operating accounts.

CosmoLex adds trust transactions as a liability as a safeguard. You can enter hard costs such as a filing fee and pay it from a trust account. LawPay integration enables your clients to pay bills or fund a trust account online with a credit card.

Several integrations enable you to access your data outside of CosmoLex. The calendar integrates with G Suite and Office 365, while the document management system can use Box, Dropbox, or OneDrive as its data store. Also, Auto-Match technology files forwarded email messages and attachments in the correct matter.

Other features include task management with automated workflows (e.g., court deadline calculations), a client portal for securely chatting and sharing documents with clients, matter notes, and conflict checking.

What Else Should You Know?

Version 4.6 includes an enhanced Data Import tool to make it easier to migrate from your existing software to CosmoLex. This free tool imports clients, matters, bank transactions, accounts receivable, and trust account balances. If you need a turn-key accounting data migration, CosmoLex certified consultants can handle it for a one-time fee. CosmoLex costs $49 per user per month if paid annually ($59 if paid monthly). Learn more about CosmoLex.

How to Receive TL NewsWire
So many products, so little time. In each issue of TL NewsWire, you'll learn about five new products for the legal profession. Pressed for time? The newsletter's innovative articles enable lawyers and law office administrators to quickly understand the function of a product, and zero in on its most important features. The TL NewsWire newsletter is free so don't miss the next issue. Please subscribe now.

Topics: Accounting/Billing/Time Capture | Practice Management/Calendars | TL NewsWire

Review of AirPods as a Headset for Voice Communications Plus Top 10 Law Firm Domain Name Mistakes

By TechnoLawyer | Wednesday, February 15, 2017

Coming today to SmallLaw: Using an iPhone without a Bluetooth headset is barbaric except that these devices have underwhelmed despite more than a decade of R&D. Problems with audio quality, battery life, and pairing remain. Enter the AirPods, Apple's wireless headphones. Hiding inside this product are two Bluetooth headsets. In this issue of SmallLaw, TechnoLawyer publisher Neil Squillante tells you how well the AirPods perform as a headset — battery life, pairing, controls, sound and microphone quality, and more. Also, don't miss the SmallLaw Pick of the Week for the top 10 law firm domain name mistakes.

How to Receive SmallLaw
Small firm, big dreams. Written by practicing lawyers who manage successful small firms and legal technology and practice management experts who have achieved rock star status, SmallLaw provides practical advice on management, marketing, and technology issues in small law firms, as well as comprehensive legal product reviews with accompanying TechnoScore ratings. SmallLaw also ensures that you won't miss anything published elsewhere by linking to helpful articles (and podcasts and videos) about solo practices and small law firms. The SmallLaw newsletter is free so don't miss the next issue. Please subscribe now.

Topics: Coming Attractions | Email/Messaging/Telephony | Gadgets/Shredders/Office Gear | Law Firm Marketing/Publications/Web Sites | SmallLaw

How a Grandma Receptionist Boosts Billings Plus 44 More Must-Reads

By TechnoLawyer | Tuesday, February 14, 2017

Coming today to SmallLaw: Our editorial team has selected and linked to the 45 best articles, podcasts, and videos from the past week worthy of your attention. Below you'll find a sampling from today's issue, including our SmallLaw Pick of the Week. SmallLaw is free so don't miss the next issue — sign up now.

Congratulations to Jana Schilder of Legal Ink Magazine on winning our SmallLaw Pick of the Week award: How a Grandma Receptionist Boosts Billings

A Simple 24-Minute Morning Ritual to Kickstart Your Day

Get the Most Out of Your Feedback

Justice Toolbox Lets People Pick Lawyers Based on Win Rates

Your Website Should Work More Like NYTimes.com

How to Receive SmallLaw
Small law firm, big dreams. Written by successful small-firm founders, managing partners, administrators, and legal technology and practice management experts, SmallLaw provides practical advice on management, marketing, and technology issues in solo practices and small law firms. Additionally, SmallLaw features comprehensive reviews of legal products with accompanying TechnoScore ratings. SmallLaw also ensures that you won't miss anything published elsewhere by linking to helpful articles, podcasts, and videos about solo practices and small law firms. Subscribe now for free.

Topics: Coming Attractions | Law Firm Marketing/Publications/Web Sites | Law Office Management | SmallLaw

Review of PhoneSoap Plus 54 More Must-Reads

By TechnoLawyer | Monday, February 13, 2017

Coming today to BlawgWorld: Our editorial team has selected the 55 best legal technology articles, podcasts, and videos from the past week. Below you'll find a sampling from today's issue, including our BlawgWorld Pick of the Week. BlawgWorld is free so don't miss the next issue — sign up now.

Congratulations to Chris Chavez of Phandroid on winning our BlawgWorld Pick of the Week award: Review of PhoneSoap

Secure Client Collaboration Added to LEAP

The Best Bluetooth Headsets of 2017

Review: Plantronics Voyager Focus UC

Micro-Symposium on Legaltech 2017

How to Receive BlawgWorld
Our newsletters provide the most comprehensive coverage of both legal technology and mainstream technology of interest to the legal profession. But not the only coverage. BlawgWorld enables you to stay on top of all the noteworthy legal and mainstream technology articles (and podcasts and videos) published elsewhere without having to hire a research assistant. Even when you're busy, you won't want to miss each issue's Pick of the Week. Subscribe now for free.

Topics: BlawgWorld Newsletter | Coming Attractions | Gadgets/Shredders/Office Gear | Laptops/Smartphones/Tablets

My Legaltech Discoveries; Straight Talk About Legal Software Upgrades; Dragon Help; Cloud and Legal Technology Skeptics Speak Up

By TechnoLawyer | Friday, February 10, 2017

Today's issue of TL Serendipity contains these articles:

Neil Squillante, My Legaltech Discoveries: Lexis for Microsoft Office, PhraseWizard, Centerbase, Litify, Symphony OCR

Jeff Stouse, Straight Talk About Legal Software Upgrades and Annual Maintenance Plans

Roy Greenberg, Best Places to Get Help With Dragon

Michael Schwartz, Why I'm a Cloud Skeptic

Danny McDonald, Why I'm a Legal Technology Cynic

Don't miss this issue — or any future issues.

How to Receive TL Serendipity
Our most serendipitous offering (hence its name), TL Serendipity consists of contributions by TechnoLawyer members who have important information to share. You'll no doubt enjoy it because of its mix of interesting topics and genuinely useful knowledge, including brutally honest product reviews and informative how-tos. The TL Serendipity newsletter is free so don't miss the next issue. Please subscribe now.

Topics: Business Productivity/Word Processing | Coming Attractions | Dictation/OCR/Speech Recognition | Gadgets/Shredders/Office Gear | Legal Research | Online/Cloud | Practice Management/Calendars | TL Serendipity

LEAP Adds Secure Client Collaboration to Its Practice Management Platform With LawConnect

By TechnoLawyer | Thursday, February 9, 2017

Today's issue of TL NewsWire covers practice management software with a new Dropbox-like technology for securely sharing documents and communicating with clients (see article below). In addition, you'll find links to the previous 11 TL NewsWire features, including our coverage of software for managing trademarks and other IP assets, practice management software for personal injury lawyers, a court docket service for receiving alerts about cases of interest, and much more. Don't miss the next issue.

The ABA's duty of technology competence seems poised to become the latest regulation adopted by all 50 states. While the rule doesn't provide specifics, many law firms have interpreted it as requiring a more secure approach to client communication and document sharing.

LEAP … in One Sentence

LEAP is practice management software that recently added secure client collaboration tools.

The Killer Feature

LEAP's new LawConnect "storage and collaboration platform" enables you to securely communicate and share documents with clients. Most competing offerings (often called "client portals") require setup before you can use them. LawConnect functions in a Dropbox-like ad hoc manner. This approach means you can share a document in seconds even if you've never previously used LawConnect.

Select one or more documents within a matter, click the LawConnect button, and choose the people with whom you wish to share the document. Recipients receive an email message with a secure link to create a LawConnect account after which they can access the document. Within LEAP, icons let you know which documents are shared and whether clients have viewed them. You can revoke access anytime with or without notifying the client.

LawConnect also facilitates secure client communication. Email notifications let you know a new message exists. LEAP's in-app notification system likewise keeps you apprised of new messages.

Other Notable Features

LEAP offers integrated timers and a timesheet for capturing time contemporaneously or after the fact. A number of technologies automate time capture. For example, Auto Text enables you to store frequently used descriptions, and enter them with a few mnemonic keystrokes. Also, LEAP lists unbilled activities that don't yet have time entries. The LEAP mobile app records billable time on the go.

In addition to capturing more time, LEAP may also get you paid faster now that it integrates with RapidPay (powered by LawPay) for online credit card processing. You can add a RapidPay link to invoices you send.

LEAP also integrates with Microsoft Office for document assembly. LEAP includes many forms (a.k.a. templates) plus you can import and create your own. These forms, which work in both the Online and Windows version of Word, can pull data from any field in LEAP, and incorporate "if/then" statements and other sophisticated logic. You can link applicable forms to a Task so that those assigned the task have everything they need. When you create a document or email message, LEAP prompts you to bill for it.

In addition to capturing documents created through automated forms, LEAP can also import entire folders during initial setup. Similarly, your existing scanning workflow can be redirected to save documents in LEAP (the Android and iPhone app contains a document scanner for mobile scanning). LEAP captures email via the Outlook add-in.

What Else Should You Know?

LEAP works on all platforms. You can use your choice of native apps for Windows, iPad, iPhone, and Android. It also runs in your web browser. LEAP includes a Google- and mobile-optimized website for your law firm to help you attract new clients. Learn more about LEAP.

How to Receive TL NewsWire
So many products, so little time. In each issue of TL NewsWire, you'll learn about five new products for the legal profession. Pressed for time? The newsletter's innovative articles enable lawyers and law office administrators to quickly understand the function of a product, and zero in on its most important features. The TL NewsWire newsletter is free so don't miss the next issue. Please subscribe now.

Topics: Practice Management/Calendars | TL NewsWire

Legendary Litigators Offer Advice on Opening Statements Plus 43 More Must-Reads

By TechnoLawyer | Thursday, February 9, 2017

Coming today to LitigationWorld: Our editorial team has selected and linked to 44 articles from the past two weeks worthy of your attention. Below you'll find a sample article from each section of today's issue, including our LitigationWorld Pick of the Week.

Lex Machina's New Analytics Apps Explore Damages and Parties

How to Write a Legal Brief

Judge Gorsuch by the Numbers and Decisions

Software Helps Assemble Social Media Posts From a Specific Event or Point in Time

Congratulations to Allison Leotta of ABA Journal on winning our LitigationWorld Pick of the Week award: Legendary Litigators Offer Advice on Opening Statements

How to Receive LitigationWorld
All practice areas evolve, but none faster than litigation. Written by successful litigators and other litigation experts, LitigationWorld provides you with practical tips related to electronic discovery, depositions, litigation strategy, litigation technology, and trial presentations. You'll also receive in-depth litigation product reviews as well as links to the most noteworthy articles in other online litigation publications so that you'll never miss anything. The LitigationWorld newsletter is free so don't miss the next issue. Please subscribe now.

Topics: Coming Attractions | Litigation/Discovery/Trials | LitigationWorld

The Era of the White Dwarf Law Firm Plus Lateral Moves and Promotions (Jan 23 to Feb 5)

By TechnoLawyer | Wednesday, February 8, 2017

Coming today to BiglawWorld: Our editorial team has assembled links to all the partner promotions and lateral moves announced by America's largest law firms during the past week in an easy-to-scan format. You'll also find must-read analysis, rankings, trends, etc. about large law firms.

We'd like to congratulate everyone who leveled up this week. Here's a sampling:

Quinn Emanuel: Quinn Emanuel Elects Thirteen New Partners

Reinhart: Reinhart Names Six New Shareholders

Saul Ewing: Saul Ewing LLP Elects Nine Attorneys to Partnership

Seyfarth Shaw: Seyfarth Promotes 18 as Partners

Shearman & Sterling: Shearman & Sterling Promotes 12 to Counsel

Waller: Waller Elects Twelve New Partners

Congratulations to Kenneth Grady of SeytLines on winning our BiglawWorld Pick of the Week award: The Era of the White Dwarf Law Firm.

How to Receive BiglawWorld
BiglawWorld keeps you apprised of lateral hires, internal promotions, mergers, new offices, accolades, and other inside baseball at America's largest law firms. Because we organize this self-reported news by practice area and law firm, BiglawWorld takes just a few minutes to scan yet its comprehensiveness makes it the only source you need. Each issue of BiglawWorld also links to insightful articles, statistical reports, rankings, podcasts, and videos about large law firms. Subscribe now for free.

Topics: BiglawWorld | Coming Attractions | Law Office Management | Technology Industry/Legal Profession

How I Tamed the Savage Email Beast Plus 40 More Must-Reads

By TechnoLawyer | Wednesday, February 8, 2017

Coming today to SmallLaw: Our editorial team has selected and linked to the 41 best articles, podcasts, and videos from the past week worthy of your attention. Below you'll find a sampling from today's issue, including our SmallLaw Pick of the Week. SmallLaw is free so don't miss the next issue — sign up now.

Congratulations to Rich Sierra of Lawyernomics on winning our SmallLaw Pick of the Week award: How I Tamed the Savage Email Beast

Give Your Eyes a Break

Four Productivity Building Blocks

How to Choose a Good SEO Company for Your Law Firm

Boosting Business With a Focused Approach

How to Receive SmallLaw
Small law firm, big dreams. Written by successful small-firm founders, managing partners, administrators, and legal technology and practice management experts, SmallLaw provides practical advice on management, marketing, and technology issues in solo practices and small law firms. Additionally, SmallLaw features comprehensive reviews of legal products with accompanying TechnoScore ratings. SmallLaw also ensures that you won't miss anything published elsewhere by linking to helpful articles, podcasts, and videos about solo practices and small law firms. Subscribe now for free.

Topics: Coming Attractions | Email/Messaging/Telephony | Law Firm Marketing/Publications/Web Sites | Law Office Management | SmallLaw

Micro-Symposium on LegalTech 2017 Plus Why Solos Should Not Remain Solos

By TechnoLawyer | Tuesday, February 7, 2017

Coming today to SmallLaw: Legaltech 2017 (a.k.a. Legalweek) is now in the history books — thanks this issue of SmallLaw. We asked 11 exhibitors and other legal technology experts who attended — Robert Ambrogi, Michael Barrons, Mary Ellen Bellusci, Jesus Maria Boccio, Brett Burney, Shawn Gaines, Nehal Madhani, Ian O'Flaherty, Jeff Pfeifer, Benjamin Snipes, and Deborah Tesser — to share their product discoveries, tips, trends, and other observations from the perspective of small law firms. Also, don't miss the SmallLaw Pick of the Week to learn why solos need employees and how to hire them.

How to Receive SmallLaw
Small firm, big dreams. Written by practicing lawyers who manage successful small firms and legal technology and practice management experts who have achieved rock star status, SmallLaw provides practical advice on management, marketing, and technology issues in small law firms, as well as comprehensive legal product reviews with accompanying TechnoScore ratings. SmallLaw also ensures that you won't miss anything published elsewhere by linking to helpful articles (and podcasts and videos) about solo practices and small law firms. The SmallLaw newsletter is free so don't miss the next issue. Please subscribe now.

Topics: Business Productivity/Word Processing | CLE/News/References | Coming Attractions | Document Management | Law Office Management | Litigation/Discovery/Trials | Practice Management/Calendars | SmallLaw
 
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