Solicitor accounts

• Entries when money is received ?

  CR CL (credit entry in client ledger)

  DR CA (debit entry in cash account)

  
  

  Under client or business section where appropriate
• Entries when payment made?

  DR CL (debit entry in client ledger)

  CR CA (credit entry in cash account)

  
  

  client or business section where appropriate
• Entries for when a professional bill is sent?

  DR BS CL (debit entry in business section of client ledger account)

  CR PCA (credit entry on profit costs account)
• entries for documenting VAT?


  DR BS CL (debit entry in business section of the client ledger)

  CR HMRCA (credit entry in HMRC account)
• entries for receiving a cheque from client ?

  CR CL BS (credit entry on client ledger of business section)

  DR CA BS (debit entry in cash account in business section )
• entries for buying new office premises ?

  CR CA (credit entry in cash account)

  DR PA (debit entry in premises account)
• entries showing an abatement (reduction in client bill)?

  CR BS CA (credit entry in business section on client account)

  CR BS VA (credit entry in business section on VAT account)

  DR CS PCA (debit entry on client section of profit costs accounts)

  DR HMRCA (debit entry on HMRC account)
• entries for interest on client money held?

  DR IPLA BS (debit entry interest payable ledger account in business section)

  CR CL BS (credit entry in client ledger account in business section)