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Solicitors
Accountants for Solicitors
Unsurprisingly, accountants for solicitors are required to have an in-depth understanding of the sector and the challenges that come alongside it, such as Solicitors Accounts Rules and the many changes that go with that.
If you don’t yet have accountants for solicitors, it’s worth reading on..
Why are specialist accountants for solicitors needed?
When it comes to solicitors, the finances and accounting sectors of the business are entirely different to that of any other sector. Most companies hire accountants for standard tasks such as audit services and filling in tax forms, but when it comes to accountants for solicitors, there’s so much more to keep in mind.
Because accounting for solicitors is so different to any other type of accounting, it’s very important to hire a specialist accountant who knows not only everything there is to know about this type of accounting, but also has extensive knowledge of the legal professional sector overall.
Basically: this specialist area of accounting is unlike any other.
Solicitors Accounts Rules
Let’s take a brief look at Solicitors Accounts Rules (SAR). SAR is basically a set of rules and requirements for when firms receive or deal with money belonging to clients. Firms need to have a set of systems and controls in place to ensure compliance with these rules – which are naturally quite comprehensive and overwhelming!
Such rules and regulations also see regular changes and given they are legal requirements, it’s very important that these rules are adhered to correctly. There is little room for mistakes in this area – which is why it always helps to have specialised accountants for solicitors to hand.
What does accounting for solicitors involve?
Whether you’re part of a successful well-known firm or you’re a freelance solicitor, you’ll no doubt benefit from accountants for solicitors. This involves:
- SAR reports
- Partner’s personal tax
- Incorporation or Limited Liability partnerships
- Property
- Practice finance
- Litigation support
This is just a basic list but by hiring accounts for solicitors from Go Impartial, you’ll also have a reputable accountant that can help with a variety of different accounting for solicitors or finance queries and tasks.
How can Go Impartial find reputable accountants for solicitors?
Go Impartial offers a panel of experienced accountants for solicitors who specialise in accounting for solicitors. We understand that this is a specialist sector unlike any other and that, for example, an accountant for doctors is very different to accountants for solicitors.
Additionally, our team of accountants are kept continually up to date with any changes to Solicitors Accounts Rules or the industry overall. And they work their hardest to not only make life easier for you, but to help you understand this area of your business whilst dealing with the hard work.
Any solicitor deals with their own fair share of struggles and stresses and rarely has the time or patience to deal with nitty-gritty tasks like documentation for SAR or audits.
Compliance and attention to detail are especially important in accounting for solicitors – there is no room for mistakes. Therefore it’s essential to get in touch with an experienced accountant from Go Impartial who can deal with all the tough and comprehensive tasks and leave you to focus on other more important areas of your business.
