PAID CHEQUES

Problem

Regulation 20 deals with the Minimum Accounting Records that is required to be kept by Solicitors. This includes that all paid cheques from the Client Bank Accounts be returned by the bank and stored in numerical order.

Recommendation

Request each bank in which client monies are held to return a copy of each cheque as they are paid out of the bank account. These cheques should be stored in numerical order and, also, a copy put on the relevant client file (see B above).