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Legal Cashiers are responsible for the financial management of a solicitor's practice. Although Legal Cashier is the most commonly used term for this role, the Institute of Legal Cashiers and Administrators (ILCA) points out that other terms include: legal accountant; legal bookkeeper; financial controller; accounts manager; practice manager; and partnership secretary.
Legal Cashiers operate in a specialist field, managing the accounts of the legal profession - solicitors, lawyers and barristers.
Typical duties include:
Daily bookkeeping and accounting tasks.
Managing office and client accounts, keeping both separate at all times.
Issuing client invoices and collecting and recording payments.
Maintaining a working knowledge of Solicitors Accounts Rules (SARs) and applying these at all times.
Liaising with legal colleagues to maintain fit and proper legal accounting standards.
SARs are specialist financial guidelines which apply to law firms and must be applied in all financial accounting to uphold integrity in all internal financial matters and dealings with clients. This is one reason why Legal Cashiers are specialist professionals who need specific expertise and experience.
Qualifications
Although not all Legal Cashier roles require formal qualifications, the nature of the role calls experience in accounting and a detailed knowledge of SARs, along with the integrity and probity called for in the legal profession. The ICLA offers a range of training courses for those who wish to maintain an up to date knowledge of law office management and legal bookkeeping.
