Fundamental to any accounts office is compliance with the SRA Accounts Rules (formerly known as the Solicitors Accounts Rules). It is the basic principle of the rules that client monies must be kept safe, but of course that is not all there is to it!
Amongst other things, firms must keep separate ledgers for each matter, must ensure that any client ledger is never put in to debit and that the office side of any client ledger is never put in to credit. These are all areas where Insight Legal can provide invaluable assistance.
On each posting screen, Insight Legal will calculate the new balance on the ledger for you, so even before committing a posting you can check what the new balance will be. In addition, if you were to enter any posting that would put your client ledger in to debit or your office ledger in to credit, a message will be displayed on screen giving you the relevant warning and giving you the option to abort or amend the posting at that point.