Why is educating staff on bookkeeping important to your firm?
Many firms struggle with inadequate knowledge of legal bookkeeping practices which gets them into difficulties with the regulator. This creates an additional cost for members of the Law Society who have to pay the costs of regulation. The purpose of the Legal Bookkeepers Institute is to provide training to newcomers of the profession, or to current employees who are taking on bookkeeping responsibilities.
Money also moves from the trust account to the office account in accordance with strict rules, and it can be very confusing for someone who has not been trained in the principles of legal bookkeeping to come to terms with the requirements.