Solicitor Accounts

This class was created by Brainscape user Natasha Mcgrath. Visit their profile to learn more about the creator.

Decks in this class (10)

Double entry book keeping and SRA Rules
What is the name of the bookkeepi...,
What two aspects are recorded for...,
Which side of an account is used ...
10  cards
Client money and client accounts
What is the definition of a clien...,
What is the definition of client ...,
What is business money
33  cards
Common Solicitors Accounting entries
What are the two sets of accounti...,
What is the purpose of the dual c...,
How are receipts of money recorde...
5  cards
Transfers and Mixed receipts
What is a cash transfer and when ...,
How is a cash transfer recorded i...,
What is an inter client transfer ...
7  cards
Value added tax for legal services
What are the two distinct aspects...,
What is a taxable person,
Provide some examples of disburse...
5  cards
Interest
What ethical obligations do solic...,
Does the client always have to re...,
What are the two methods for deal...
9  cards
Property transactions
What is stakeholder money,
How should a solicitor record sta...,
What happens to stakeholder money...
6  cards
Special accounting entries
What type of money is a check mad...,
What should a firm do with a chec...,
What happens when a firm draws ag...
8  cards
Joint accounts, the clients bank account and TP accounts
What is a joint account,
Is a joint account a client account,
What are some of the solicitor s ...
8  cards
Compliance
What is the main goal of the sra ...,
When does a firm need an accounta...,
When is a firm not required to ge...
10  cards

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Solicitor Accounts

  • Class purpose General learning

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