We carry out a lot one-off transactions for clients. However, instead of opening an individual client ledger for each client, we have a general ledger card on which we record the details of each client and the bills and costs received. Is this permissible under the SRA Accounts Rules?
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Does a bill of costs need to be signed?
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We’ve taken money on account of costs from a client. Does the sending of a bill automatically ‘earmark’ any money held in client account towards part or all of the bill?
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You’ve received bank interest for money held in the business account. What VAT rate do you select when posting the receipt to the accounts?
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You’ve received bank interest for money held in the client account. What VAT rate do you select when posting the receipt to the accounts?
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What constitutes to be a serious breach of the SRA Accounts Rules?
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Who should check and sign the client bank reconciliation?
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Is it permissible to issue the client with a bill of costs for an unpaid, not yet incurred, disbursement?
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Can we place client money on fixed-term client deposit account?
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Do I need to account for VAT on costs and interest awarded by the court for pursuing a bad debt?
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