Legal Cashiering & Accounting - A Beginner’s Guide

Introduction

The finance department of a law firm is responsible for managing the day-to-day transactions and finances of the business.

This includes bookkeeping, preparation of balance sheets, cash flow reports, financial statements, record keeping and reporting. It also includes managing the payroll and accounts of the business. The finance department will also be involved with managing and conducting internal audits and ensuring compliance with the SRA Accounts Rules.

Nearly all firms that transact client money will have a legal cashier, or in larger firms, a team of cashiers with the role being segregated into areas such as credit control, billing, compliance, management accountants and cashiering.

This new virtual classroom seminar is ideal for new starters and for those returning to legal practice and accounts and will provide delegates with an introduction to legal finance and explain how this fits within legal practice.

What You Will Learn

This live and interactive session will cover the following:

• The role of the legal finance professional/cashier
• Double entry bookkeeping - the basics
• Client, business, and petty cash accounts
• SRA Accounts Rules - an overview
• Banking
• Disbursements and recharges - an overview
• Practice management software and reporting
• The reporting accountant and the annual audit
• The regulator and investigations

Recording of live sessions: Soon after the Learn Live session has taken place you will be able to go back and access the recording - should you wish to revisit the material discussed.