The Legal Bookkeeping course is about how to do solicitors accounts using the England & Wales (UK) Solicitors Accounts Rules (SARs).
The learning is structured in a practical way. There is a workbook which we work through together. You can pause the video at any point, have a go at the exercise yourself, and then watch the video, or watch the video, do the exercise, and then check your answers.
There are various tasks to complete. You are given the task to do and have a go at, and then the video answer is available. It is suggested that you:
You’ll learn about double entry bookkeeping, petty cash, partnership accounts, how a solicitors office should run, keeping accounting records, recording transactions, residual balances, client account, office account, vat, methods of dealing with interest, how a solicitors office should run - amongst over things.
This is a useful course if:
The course isn't based on any specific software. All exercises are based on excel spreadsheets, so you can apply the knowledge in this course to any (UK) law firm / practice that you work in.
The course materials includes a 100+ page workbook.
The course will take about 12 hours to complete.
It is relevant to the UK market (solicitors and lawyers).
How a solicitors office should run.
Explanation of how a solicitors office should run.
End of section recap.
Tips on how to keep accounting records.
Transferring client ledgers.
Recording transfer from client to office.
Making inter client transfers.
How to deal with residual balances on account.
Mixing client and office money.
End of section - recap with questions and answers.
Posting receipts from the LSC.
Handing insurance commission.
Multiple choice question and answer
Worked example - exercise 1
Worked example - exercise 2
Worked example - exercise 3
Worked example - exercise 4
Worked example - exercise 5
Worked example - exercise 6
Worked example - exercise 7
Worked example - exercise 8
Worked example - exercise 10
Worked example - exercise 11
Worked example - exercise 12
Worked example - exercise 13
Worked example - exercise 14
Worked example - exercise 15
Worked example - exercise 17
Where to go to continue your learning.
Lisa Newton BA MSc FMAAT has a masters degree in Investment Management and a first class honours degree in Accounting with Marketing. She formed her first company in 2004 with £150 in the same month of graduating from City University, London UK. Lisa has never had a full time 9 to 5 job in her life. She's a serial entrepreneur and author who holds directorships in various industries including telecoms, property management, publishing, hair & beauty as well as finance. She has won various awards in Business including: Young Entrepreneur of the Year Award 2007, in 2008 Enterprising Business Award, in 2016 BE Mogul Award and has been nominated and shortlisted in numerous others. In 2011 and in 2012 one of her companies won Best Accounting Franchisor Award. In 2015 and 2017 one of her companies won Best Bookkeeping Business London (Accountancy International Awards).
Lisa's books include: How to write a book in two weeks, Constant Cashflow, Make the most of your money, How to start your own bookkeeping business, Cosmic ordering with Vision Boards, How to Franchise Your Business and Quickbooks Online The Handbook. Some of the books are in audio-format on itunes and audible.
Lisa supports the charity The MS Society. A speaker, coach, consultant and an avid networker, Lisa enjoys meeting people and working on projects with like-minded individuals.
In her spare time, Lisa likes traveling, dancing salsa, writing books, learning languages, meditation, yoga and cosmic ordering.