What you'll learn
What you actually need to know for the SQE 1 exam for Solicitors Accounts is explained in this video:
Course content
Definition (Client money)
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Requirement to pay client money into a client account (Client money):
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Circumstances in which client money may be withheld from a client account (Client money)
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Repayment (Client money)
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'T-accounts' - Accounting entries required (Client money)
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'Debits' and 'credits' - asset accounts - Accounting entries required (Client money)
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'Debits' and 'credits' - liability & equity accounts - Accounting entries required (Client money)
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Solicitors account entries - Accounting entries required (Client money)
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Meaning and name of account (Client account)
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Obligation not to use client account to provide banking facilities (Client account)
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Withdrawals and accounting entries required (Client account)
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Requirement to keep client money separate from money belonging to the authorised body
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Requirement to pay interest on client money (Interest)
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Duty to correct breaches of SRA Accounts Rules promptly on discovery & Accounting entries required (Breach of the SRA Accounts Rules)
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Disbursements using the agency and principal methods
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Transfers (Requirement to keep and maintain accurate records in client ledgers, including requirement to carry out reconciliation of client accounts and to keep a record of bills to include)
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Submission, reduction and payment of bills including the VAT element
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Operation of joint account; operation of a client’s own account
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Third-party managed accounts
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Obtaining and delivery of accountants’ reports; storage and retention of accounting records
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Why sign up?
✅ Focused material: You’ll learn just what you need to know to pass solicitors accounts part of the SQE 1 exam - no more and no less - so that you’ll learn faster, in less time, and you avoid getting lost in reams of unnecessary study material.
✅ Practice tests: You can test your knowledge on solicitors accounts part of the SQE 1 exam with us as you go along with practice SQE 1 exam questions and worked answers, so that you’re familiar with the exam format and the kinds of questions that could be asked in the SQE 1 exam;
✅ Visual learning: So the course provides unique diagrams on the solicitors accounts you won’t find anywhere else, distilling what you need to know for the exam, and videos and manageable, bite-sized colourful study notes. This means you’ll understand the material faster and retain the knowledge longer so you remember it when you’re in the exam.
