Practice Management Software Helping to Measure Practice Wide Performance

A range of time reports measure productivity and identifies missing or outstanding time sheets early on, ensuring that all time is accounted for and billed. Time written off can be analysed in a variety of ways. An aged disbursements report analyses disbursements that are currently unbilled. Critical task reminders are available via the diary and by report summaries.

Fee Earner Budgets and Analysis

Fee Earner Budgets
A monthly report is available that shows time budget, billing budget, estimated budget and new matter budget compared to actual.

Fee Earner Analysis
A summary report is available that shows profit costs, unbilled disbursements and unpaid bills for month and year-to-date.

Time Recording and Management

The system provides alternative methods to create flexibility for time-recording and allocation to matter:

• Time sheet manual input
• Automatic recording of time

Both recording methods can operate as fixed time or actual time taken.

Defining Codes and Rates
User defined activity codes are linked to the fee earner rate and legal aid rate to automatically calculate charges for the work.

Multiple rates per fee earner and any Legal Aid rates can be set up.

Time Managing Case Work
Time limits can be set per matter to generate on screen or reporting alerts when their set limit is approached. Various time audit and analysis reports are also available and a billing guide is produced for individual matters.

Cognito's Practice Management Software Helps...

Credit Control and Systematic Facilities

Keeps billing on a regular basis, including disbursements Ensures that clients pay promptly and late payers are followed up.

Systematic Process
Time limits are set on individual matters to determine when the bill is sent and to control excess accumulation of work in progress. Firm defined credit periods keep payments on track and ensure positive cash flow.

Disbursement Accounting
FiLOS intelligently handles both individual disbursement payments and high volume disbursements where credit facilities are in operation.

Interest
The Cognito Interest Calculator works in line with SAR (Solicitors Accounts Rules) to determine entitlement to interest. The system automatically posts the amount due to the client's ledger. As interest rates change, new rates are entered, taking into account clearing days, defined as any number of bank working days in line with the clearing procedure. This automated process saves time engaged in administration procedures.

Extensive Accounting Features are included as standard
Cognito’s FiLOS software grew out of a successful legal accounts system, which was further developed to meet the wider demands of the profession - one reason why many firms are delighted with the breadth of convenient facilities.

Auto posting routine
Can be used to automatically post transactions made on a regular basis, for example, monthly Direct Debits. Once set up, it is quick and simple to use. Due postings are notified when action is required.

Batch postings
A fast process that saves time where there are several transactions of the same type are required e.g. input of cheques received. The system enables the cashier to move directly to a new case to perform the same transaction for another client.

Batch reporting
Automates production of multiple reports run at regular intervals. Typically batches for daily audit reports or a series of month end and management reports.

Bank reconciliation
Statement reconciliation between bank and office accounts or client accounts. The cashier can save any progress made, allowing the bank reconciliation to be completed in stages. A record of previous reconciliation reports
is retained.

Bill printing
Automatically calculates and formats bills.

Cashier Posting
Fee earner logs request and forwards to cashier to raise cheque. The cashier can check the ledger before posting and print the cashier authority voucher for record purposes.

Cheque printing
Can be set-up to firm's cheque format and automatically printed. Accompanying remittance advice slips can be automatically set-up to print with the cheque.

Client letters
Automatic production of standard letter informing client of cost updates for current matters.

Data Security
Secure 'posting roll-back' for recovery from system crashes. Partially completed transactions are ignored should a system crash occur.

Double entry
This is achieved automatically from a single input.

Full purchase ledger
Including discount diary for early settlement and ability to handle unpaid disbursements efficiently.

Fully automated VAT
Accounting for all ledgers and reports.

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