Law Society of Alberta Approves CosmoLex for Trust Transaction Reporting

The practice management platform CosmoLex has been approved by the Law Society of Alberta as a software vendor for its Electronic Trust Transaction Reporting Program.

The approval means that the Law Society has certified CosmoLex as compatible and in compliance with its requirements for uploading trust transaction data. The Law Society requires law firms to upload this data so that it can audit billing and trust accounting transactions.

CosmoLex is only the fourth company to obtain this approval. The others are LexisNexis PCLawESILaw and Clio.

user guide is available for lawyers interested in using CosmoLex for their data uploads, as well as for the other approved software vendors. A frequently asked questions document on CosmoLex’s trust accounting features is also available.

Last October, CosmoLex released a version of its software designed for Canadian law firms and hosted at a data center located in Canada. The software automatically generates the annual trust safety accounting upload, which can then be submitted to the Law Society.