End of Month Procedure

End of Month Procedure - LEAP Web

Jan 10, 2025
Knowledge

How To

According to the Law Society of England and Wales, you must complete an end of month procedure for each client funds account.

During this procedure, you'll need to Reconcile your Client Funds Account and generate a series of reports to meet your client accounts accounting regulations.

About the End Of Month Reports

The reports to be generated fall under two categories:

General Client Accounts End of Month

Client Accounts Audit Report
Separate Designated Client Accounts List of Accounts Report

Click to edit heading

The Audit Trail report will contain many pages when you run your first client accounts end of month. This is due to a large number of matters that have been added or modified in LEAP.

Account Client Accounts End of Month

Client Accounts Overdrawn Report
Client Accounts Trial Balance Report
Client Accounts Journals Report
Client Payments Cashbook
Client Receipts Cashbook

Generating the End Of Month Reports

To generate the client accounts end of month reports, from LEAP:

Click on the app launcher select Reports.

The LEAP Reports window opens in your default browser.
Hover over Client Funds > Client Accounts End of Month and follow the steps in the next sections to generate the required reports.

General End Of Month Reports

Click General Client Account EOM.

The General Client Accounts End of Month window opens.
Ensuring that the month ending date is the last month you generated the General Client Accounts End of Month reports, click Run EOM.

Click to edit heading

Tick Signed and reviewed by and make your selection from the drop-down list to place the date and name of the reviewer on the produced reports.

To view the report, click on each report name listed on the screen after the EOM reports are produced.
To print the report, open the report and click the printer icon.

Account End Of Month Reports

Click Client Account EOM.

The Client Accounts End of Month window opens in your default browser.
Select your Bank Account Name from the drop-down list.
Ensuring that the month ending date is the last month you produced the Client Accounts End of Month reports, click Run EOM.

Click to edit heading

Tick Signed and reviewed by and make your selection from the drop-down list to place the date and name of the reviewer on the produced reports.

To view the report, click on each report listed on the screen after the EOM reports are produced.
To print the report, open the report and click the printer icon at the top right-hand corner of the window.

Your client accounts end of month procedure is complete once you’ve reconciled your client funds account and generated the client accounts end of month reports.

Printing the End of Month Reports

LEAP records a copy of each report once they are generated. However, we recommend that you print each report and store them securely for ready access as most regulators will require you to retain a printed copy of all end of month reports.

All but two of the reports (The Separate Designated Client Accounts List of Accounts Report and the Client Accounts Trial Balance report) print with continuous numbering meaning that the page numbering continues from one month to the next.

For example, in the first month, the Client Accounts Audit Trail report will have pages 1, 2 and 3, and in the following month, the Audit Trail report will have pages 4, 5, 6 and 7.

Refer to the Law Society of England and Wales for more information about the end of month procedure for client accounts.

Accessing Previous Client Accounts End of Month Reports

Previous end of month reports are always available for you to access in LEAP.

To access previous end of month reports:

Click on the app launcher select Reports.

The LEAP Reports window opens in your default browser.
Hover over Client Funds > Client Accounts End of Month.
Click View Previous Client Accounts EOMs.

The Previous Client Accounts End of Month Reports window opens.
Expand the Client Accounts End of Months Reports list to find the specific report you need to access.
Click on a report name to view and print it.

Last Modified Date

10/01/2025 2:53 AM

Title

End of Month Procedure - LEAP Web

URL Name

End-of-month-procedure-for-LEAP-Web-UK

Resolution