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End of Financial Year Procedure - Client Funds Accounting

  • 05/03/2025
  • Knowledge

How To
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Learn how to to complete the End of Financial Year process for Client Funds Accounting in LEAP. 

The End of Financial Year process for Client Funds Accounting includes the following tasks:

  1. Reconciling your Client Funds Account.

  2. Performing a Client Funds Month End.

Now is a good time to review the Client Funds Trial Balance and Matters Financial Summary to ensure you are not holding monies in Client Funds for invoices you have already issued to your clients. SRA regulations state that Client Funds held for the payment of an Invoice that has been properly issued to your client, cannot be held for longer than 14 days since Invoice Date Once you have completed the above tasks, you’ll be able to enter transactions for the new financial year.

Last Modified Date
5/03/2025 11:05 pm
Title
End of Financial Year Procedure - Client Funds Accounting
URL Name
End-of-financial-year-procedure-Client-Funds-Accounting-UK

Resolution
Client Accounting
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End of Financial Year Procedure - Client Funds Accounting