The only residual client account balancing regulatory tool available on the market today
The CreditForce SRA RCAB Compliance Controller provides an exceptionally effective and easy-to-use solution to enable the administration of the Solicitors Regulatory Authority requirement to be automated, enabling the time and risk associated with its compliance to be minimised. As auditors become increasingly stringent in enforcing SRA RCAB compliance, many firms are finding themselves in breach of the SRA RCAB (Residual Client Balances) regulations in addition to having Fee Earners spend more of their potentially chargeable time on compliance and administration. That's why we created the SRA RCAB Compliance Controller, an automated workflow solution that has been tested and proven to streamline the process, reduce the amount of Fee Earner time and ensure robust compliance within your Firm.
"I don't know how other Firm's cope without it to be honest."
Simon Brocksom, Financial Manager, Walker Morris
Intelligent Features Include:
Compliance with SRA RCAB rules
Automates the production of communications with your clients, providing details of balances, and the reason why if still held after 365 days
Operates with Client Account Balances held in currency bank accounts
Automates production and saving of all documents needed in the process e.g. request for new bank details (your firm’s cheque was not cashed)
Provides maintenance and saving of checklists and details of what you did to try and locate the owner of client funds if greater than £500, prior to donating to charity
No more manual reminders in your calendar, our system ensures:
Constant checks that receipts to client account that match a balance on the same client’s A/R
Alerts Fee Earners, Cashiers, and members of your Finance Team on a daily basis of all potential breaches
Contact us and ask for Caroline Lyons to arrange a demonstration. Call 01634 812 300 or email caroline.lyons@innovationsoftware.uk.com