With CosmoLex, you can record all of your firm’s bills or invoices to pay when ready. Sometimes, you may need to associate some of these expenses to a particular matter. This is a great way to keep track of items related to clients, that are not going to be paid right away.
The option to put on the bill payment on hold will also be helpful, in case your firm received a vendor’s invoice for a client, and you are looking to place it on hold until your client’s invoice is paid in full.
Read on to learn how you can post these bills to your matters from the Accounts Payable section.
Posting Bill to Matters
1. Click on Accounting Tab
2. Click on Accounts Payable
3. Click Add to add a new bill (or Edit an existing bill)
4. After the top of the form is complete, click the checkbox for “Post as matter expense”
5. Select “New expense card” or “Choose existing expense card”
- New expense card – will create a new hard cost expense on your matter
- Choose existing expense card – will search for existing expenses that may match this bill (by amount)
6. Enter the expense information for the Matter:
- Billing Status
7. If this bill is to be placed on hold until the invoice is paid in full, check the box for this under Options.
8. When ready, click Save.
All set! When a bill has been posted to a matter, you will see the expense icon appear next to the bill.
Next time you bill your client, you will be able to include this bill as a hard cost expense.