FAQ
Important: The FAQs below were written and published before the introduction of the SRA Handbook on 6 October 2011, and may refer to regulatory material that is no longer in effect. Although they may still be relevant, these FAQs have not yet been reviewed in light of the wide-ranging regulatory changes implemented on 6 October. They will be reviewed and updated (or archived) in due course.
I do not have a client account, as I do not hold or receive client money. Do I need to keep individual client ledgers?
Yes.
Rule 29.1(b) of the accounts rules requires a solicitor to keep accounting records properly written up at all times to show the solicitor's dealings with any office money relating to any client or trust matter. All dealings with office money relating to any client matter must be appropriately recorded in an office cash account and on the office side of the appropriate client ledger account (see rule 29.4).