Solicitors Accounts

Core principles, double entry bookkeeping, SRA Accounts Rules overview

Definition, payment into client account, withholding, repayment, accounting entries

Meaning of client account, no banking facilities, withdrawals, accounting entries

Requirement to pay interest, accounting entries, exceptions

Identifying breaches, duty to correct, accounting entries, reporting

Client ledgers, reconciliation, bills, disbursements, transfers, VAT

Operation of joint accounts, client's own account, third-party managed accounts

Obtaining accountants' reports, delivery, storage, retention of accounting records