Client Account Administration

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Client Account Administration

Client Account Administration

PRS assumes responsibility for firms such as Law Firm & Estate Agent. PRS allow you to service your clients monies while eliminating the time your team spends coordinating these efforts.

Service Description

For Law Firms

SRA has recently simplified the Accounts Rules: by focusing on key principles and requirements for keeping client money safe, including:

·        Keeping client money separate from firm money

·        Ensuring client money is returned promptly at the end of a matter

·        Using client money only for its intended purpose

·        Proportionate requirements for firms to obtain an annual accountant’s report

This will put the focus on what is important and allow firms greater flexibility to manage their business. The Accounts Rules will also be simpler and easier to understand. The Accounts Rules will be supported by an online toolkit which will comprise of guidance and case studies to aid compliance

  • PRS assures you of SRA compliant bookkeeping and accountancy services to VAT returns and monthly/quarterly management accounts we can provide support and ensure your client’s compliance requirements are met.

·        Your accounts can be freely accessed by your reporting accountant to automate regular statutory accounting, audits and inspection activities

KEY BENEFITS OF CLIENT ACCOUNT MANAGEMENT

    • Maximum compliance 
    • Maintain control
    • Stay updated
    • Easy payments
    • Confidence in service
    • Access  
    • Statement management  
    • Mitigate risk