As Registered Auditors, Holgate Court Accountants have the necessary qualifications and skills to undertake audits under SAR (Solicitors Accounts Rules) and report to the SRA. We are experienced in these assignments and, if required, can also deal with year-end accounts preparation and self-assessment tax returns for the Partners.
We aim to undertake the assignments efficiently and with minimum disruption to the running of the solicitors practice.
Why Accounting for Solicitors is Different to Accounting for other Businesses
All businesses need to have a bookkeeper or accountant to come in and make sure that everything gets paid, and that the company gets paid. There are a lot of things that really need to have the careful hand of an accountant. The problem is that all fields have some specific rules, and that’s no different for the law. Accounting for solicitors has its own issues, and it’s important to know what they are before anyone gets started.
Accounting for Solicitors: What To Look For
Finding a solicitor’s accountant who knows all those rules, and is used to dealing with all the problems and issues surrounding the legal profession is important. The easiest way to do it is to find someone who has an ILFM diploma. This diploma comes from the Institute of Legal Finance and Management. That is the first thing you should look into when choosing an accountant. A person who has this diploma is able to show that they have a sound understanding of all the regulations that surround a law firma and also have all the necessary training so you can be sure that they know what they are doing.
You don’t want to try to do it on your own as you want to make sure that your books are done correctly.