Join us for a two-hour marathon Session as we go through live ALL  you need to know for Solicitors Accounts: Client Money and Accounting Transactions.

We will go over each of the accounting entries that you need to know for the exam (CR and DR).

We will also discuss the definition of client money: what it is, how to deal with it and when you can or cannot withdraw money from the client account.

Solicitors Accounts will be examined. Don't lose pointless marks. Come to this Session to master Solicitors Accounts so you score those easy marks when they come up!

A Pass will get you access to the recording for this Session and the slides (which contain accounting transaction examples).

We will be covering the following:

Client money:
o Definition
o Requirement to pay client money into a client account
o Circumstances in which client money may be withheld from a client account
o Repayment
o Accounting entries required
 Client account:
o Meaning and name of account
o Obligation not to use client account to provide banking facilities
o Withdrawals and accounting entries required
 Requirement to keep client money separate from money belonging to the authorised body
 Interest:
o Requirement to pay interest on client money
o Accounting entries required
 Breach of the SRA Accounts Rules:
o Duty to correct breaches of SRA Accounts Rules promptly on discovery
o Accounting entries required
 Requirement to keep and maintain accurate records in client ledgers, including requirement to carry out reconciliation of client accounts and to keep a
record of bills to include:
o Disbursements using the agency and principal method
o Transfers
o Submission, reduction and payment of bills including the VAT element
o Accounting entries required