Provides an effective book-keeping service, case-related financial information to fee earners, and financial information for the preparation of management accounts for a law firm. Maintains an awareness of a law firm’s practice areas and the specific needs relating to financial... [+] More
Provides an effective book-keeping service, case-related financial information to fee earners, and financial information for the preparation of management accounts for a law firm. Maintains an awareness of a law firm’s practice areas and the specific needs relating to financial transactions in order to understand fee earners’ requirements to assist in the effective progression of cases.
Processes all financial transactions for the firm in an accurate and timely manner, in accordance with Solicitors Accounts Rules, VAT Regulations, and other areas of regulation impacting specific types of transactions, such as client-to-office and office-to-client transfers, placing funds on deposit and removing funds from deposit, purchase ledger invoices and payments, and client bills and receipts. Checks all client bills before processing. Banks incoming checks daily. Monitors incoming receipts and informs the relevant fee earner of their arrival. Remits funds within the time span required by the relevant fee earner. Reconciles office and client bank accounts at the end of each accounting period. Ensures the total of client account balances on client files equates to the reconciled client bank account at the end of each accounting period. Monitors all client matter related transactions, including draft bills, for breaches and potential breaches of Solicitors Accounts Rules and informs the relevant fee earner, advising how the breach may be avoided. Report all breaches of Solicitors Accounts Rules to the Senior Partner and the Practice Manager. Ensures compliance with all accounting regulations. Processes the payroll monthly, ensuring that employees’ bank accounts are credited on the correct date. Prepares the quarterly VAT Return, ensuring it is submitted before the due date and the sum payable is reconciled to the nominal ledger. Responds to routine accounting queries in a timely manner. Ensures that all bills, purchase invoices, remittances advices, petty cash vouchers, and other documents are filed in an easily retrievable system and are archived on a regular basis. Provides financial information to assist the production of management accounts and cash flow projections. Maintains an extensive knowledge of the firm’s accounting software, and works with the Senior Partner and Practice Manager to improve its use. Offers suggestions to the Senior Partner and Practice Manager, especially in the areas of systems, procedures and compliance, which could contribute to the firm’s success. Complies with the firm’s systems and processes. (Source: eDOT Job Description) [-] Less
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