CosmoLex
CosmoLex is a cloud-based legal practice management software that integrates trust accounting, billing, and document management into a single platform to help law firms manage their entire practice efficiently.
TimeSolv
TimeSolv is a comprehensive web-based time tracking and billing software designed to help legal and professional service firms increase billable hours and streamline complex invoicing processes.
Quick Comparison
| Feature | CosmoLex | TimeSolv |
|---|---|---|
| Website | cosmolex.com | timesolv.com |
| Pricing Model | Subscription | Subscription |
| Starting Price | $99/month | $39.95/month |
| FREE Trial | ✓ 10 days free trial | ✓ 30 days free trial |
| Free Plan | ✘ No free plan | ✘ No free plan |
| Product Demo | ✓ Request demo here | ✓ Request demo here |
| Deployment | ||
| Integrations | ||
| Target Users | ||
| Target Industries | ||
| Customer Count | 0 | 0 |
| Founded Year | 2013 | 1999 |
| Headquarters | Matawan, USA | Eagan, USA |
Overview
CosmoLex
CosmoLex is a comprehensive legal practice management solution designed to run your entire law firm through a single login. You can eliminate the need for third-party accounting software because it includes built-in business and legal trust accounting (IOLTA) compliant with bar requirements. This integration ensures your financial records, time entries, and matter files always stay perfectly synchronized without manual data entry between different systems.
You can manage your practice from anywhere using the secure cloud interface or mobile app. The platform handles everything from client intake and calendar scheduling to automated billing and electronic payments. By centralizing your practice, you reduce the risk of accounting errors and ensure you never miss a billable minute, making it an ideal choice for solo practitioners and small to mid-sized law firms.
TimeSolv
TimeSolv helps you capture every billable minute and manage complex project accounting without the administrative headache. Whether you are running a law firm or a consultancy, you can track time from any device, even when you are offline. The platform simplifies the entire billing cycle by allowing you to create customized invoices, set multiple tax rates, and automate recurring charges for your long-term clients.
You can manage your entire practice through a centralized dashboard that tracks budgets, accounts receivable, and staff performance. It eliminates the friction of manual data entry by integrating directly with your existing accounting tools and payment processors. By moving your billing to the cloud, you ensure your team stays productive and your firm gets paid faster with built-in electronic payment options.
Overview
CosmoLex Features
- Built-in Legal Accounting Manage your business and trust accounts directly within the platform to ensure total compliance without using external accounting software.
- Legal Time & Billing Capture every billable second on the go and generate professional, branded invoices with just a few clicks from your dashboard.
- Business Trust Management Maintain strict IOLTA compliance with automated safeguards that prevent common trust accounting errors and simplify your three-way reconciliations.
- Document Management Store, organize, and retrieve all your case-related documents and files within specific matters for a paperless office experience.
- CosmoLex Pay Accept credit cards and eChecks directly through your invoices to get paid faster while keeping processing fees transparent.
- Client Portal Share documents and communicate securely with your clients through a private portal that enhances transparency and professional service.
- Task & Calendar Sync Coordinate your entire team's schedule and deadlines with a centralized calendar that syncs with Outlook and Google.
- Automated Workflows Standardize your firm's processes by creating repeatable task lists and workflows for different types of legal matters.
TimeSolv Features
- Offline Time Tracking. Record your billable hours even without an internet connection and sync your data automatically once you are back online.
- LEDES E-Billing. Generate specialized electronic invoices that meet strict legal industry standards like LEDES 98B and 1998BI with zero manual formatting.
- Conflict Check. Run instant searches across your entire database to identify potential ethical conflicts before you take on a new client.
- Trust Accounting. Manage your evergreen retainers and trust accounts with full compliance, ensuring your client funds are handled accurately and transparently.
- Project Budgeting. Set specific budget caps for tasks or entire projects and receive automated alerts before you exceed your agreed-upon limits.
- Document Management. Store and organize your case files directly within the platform or sync them with your favorite cloud storage providers.
Pricing Comparison
CosmoLex Pricing
- Full Practice Management
- Built-in Business Accounting
- Legal Trust Accounting
- Unlimited Document Storage
- CosmoLex Pay Integration
- Free Data Migration Support
- Everything in Monthly, plus:
- Discounted per-user rate
- Billed annually as one payment
- Priority onboarding support
- Full access to all updates
- Secure cloud hosting included
TimeSolv Pricing
- Unlimited clients and matters
- LEDES e-billing capabilities
- Trust accounting tools
- Conflict of interest search
- Document management integration
- Mobile app access
- Designed for non-legal professionals
- Unlimited projects and tasks
- Flexible invoicing templates
- Budgeting and forecasting
- Expense tracking with receipt uploads
- Standard business reporting
Pros & Cons
CosmoLex
Pros
- Eliminates the need for separate QuickBooks subscriptions
- Excellent trust accounting compliance and reporting features
- All-in-one design prevents data duplication errors
- Responsive customer support team based in North America
Cons
- Initial setup requires significant time for data migration
- Interface can feel cluttered due to many features
- Mobile app has limited functionality compared to desktop
TimeSolv
Pros
- Robust LEDES billing support for legal teams
- Reliable offline time tracking for travelers
- Excellent customer support and onboarding assistance
- Intuitive interface for quick time entry
- Seamless integration with QuickBooks and Xero
Cons
- Mobile app interface feels slightly dated
- Steep learning curve for complex reporting
- Occasional slowness during heavy data exports