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CLC Accounts Code

Course: Council for Licensed Conveyancers (CLC) - The Accounts Code
Cost: £195 + vat
CPD: 3 hours
Date: 4 May 2019
Code: LLN040521
Location: London
Time: 9.30am - 12.45pm
Availability: Places


This course explores the main provisions of the Council for Licensed Conveyancers (CLC) Accounts Code in conjunction with the detailed guidance issued by the CLC. By cutting through the jargon delegates will learn how to apply the accounts rules contained within the CLC Accounts Code in a practical manner ensuring that clients' money is handled correctly. Although assuming no prior knowledge, delegates attending this course will quickly build a sound understanding of the CLC Accounts Code by looking at the most common compliance issues that occur in practice and the pitfalls to be avoided including problem areas such as the treatment of aged balances on client ledger accounts.

Delegates attending this course will benefit from Richard Lane's expert knowledge and experience in the following areas -

Introduction

  • Why do we need the CLC Accounts Code?

Overview of the Regulations

  • Accounts related outcomes under the CLC Code of Conduct
  • General obligations under the CLC Accounts Code

Client and Office Money Explained

  • Definition of clients' and office money
  • Examples of clients' money
  • Common problem areas inc. residual balances, unpaid professional disbursements, commission and similar receipts.

Operating a Client Account

  • Payments into Client Account
  • Client money withheld from Client Account
  • Transfers and withdrawals from client account
  • Method of withdrawals from client account
  • Transfer between client ledgers
  • Dealing with aged balances
  • Accounting for interest

Accounting Requirements

  • What records must be kept
  • Reconciliation requirements

Accountant's Report

  • Obtaining and filing an accountant's report

Any Questions?


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