Need of Accounting for Solicitors (Legal Professionals)

In order to provide Accounting services for legal professionals and solicitors it becomes mandatory that the accountant is professional, experienced and has an in-depth knowledge of the sector. For an accountancy firm it is mandatory to be registered auditors and the firm should be able to provide services to all type and size of businesses.


Especially in the case of Solicitors accounting the service provider should be apply to comply with  the work related to solicitors accounting such as the Solicitors Accounts Rules, audit services, annual accounting, tax and planning for risk mitigation and should be experienced enough to advise on non-routine issues.


Changes have been made with respect to SRA(Solicitor Regulation Authority) Accounts Rules and reporting requirements, and Legal Services Board has now approved it. These changes will come into effect on or after 1 November 2015 after the end of accounting period. In this new ruling the auditor is required to exercise their professional judgement in order to determine the work required to assess risks to client money and allow for flexibility to individual solicitors practice to ‘suit the audit’.


This is why an accountancy firm with enough knowledge and experience is required for solicitor’s accountancy. We have proficiency in providing accounting for solicitors.

Requirements to be a Solicitor accountant

Most of the accountants will act as reporting accountant for solicitor clients and are required to operate client accounts.  They need to prepare the checklist and accountants report which is to be submitted to the Solicitors Regulation Authority (SRA) within six months of the client’s year end. The new Solicitors Accounts Rules (SARs) have become more “outcomes-focused”.


It is required by the accountants to get grips with the new regime in order to ensure that new rules have been followed properly and to spot breaches and prepare the accountants report and checklist with minimum error.

bookkeeping for solicitors

Bookkeeping for Solicitors

Solicitors should follow Bookkeeping practices in order to track the financial transactions, so it does not distract Lawyers billable time. Keeping all the records and organising all the financial transactions that you have made throughout the year comes under bookkeeping.


In accounting bookkeeping services is an integral part and focuses mostly on keeping day to day record of all the financial transactions that you have made for your business throughout the year. For Solicitors bookkeeping becomes important for the below mentioned reason

SAR (Solicitor Accounts rule)

The SAR’s are subcategorised into 8 categories with each part containing rules that are related to each other. In total there are 53 rules.




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