Articles

Solicitors Accounts Rules

In Solictors Accounts Rules on October 7, 2009 by Boogles Ltd

Solicitors Accounts Rules are “complicated” to say the least.  In addition to the solicitor having to RUN their business, they’re also expected to keep up with everything else that is going on, on the compliance side. This is where getting a good legal cashier can really help save a lot of time, effort and energy.  The solicitor can focus on what they do best… i.e. winning cases for the clients – be it unfair dismissal, or acting on their behalf in a criminal matter… it could be anything… and a good cashier, will focus on staying complaint to the rules. This is simply not overdrawing the client account, making sure the books are tidy and in good order, and that the VAT return will be straightforward.

Sadly, many bookkeepers who try and work for solicitors don’t know these rules…. and any solicitor who has engaged someone like that may find problems later on down the line. It’s better to get in a specialist to do your books, particularly if your field requires that knowledge. Failing a Law Society audit isn’t pleasant. And one of the most common reasons why solicitors get struck off… is down to failure to comply to the Solicitors Accounts Rules.

BOOGLEShttp://www.boogles.org are a company providing good legal bookkeepers in London & the South East.

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