SQE1 Solicitors’ Accounts – Rules, Exceptions & Key Distinctions Cheat Sheet

A comprehensive 20-page SQE1 Solicitors Accounts revision guide designed to help you understand, organise and quickly apply the accounting rules tested within SQE1.

The resource is structured to follow the relevant SRA SQE1 Assessment Specification and Functioning Legal Knowledge (FLK) applicable.

The cheat sheet uses a structured approach to help candidates identify the type of money involved, select the correct account and determine the appropriate double-entry treatment.

Topics covered include:

• Client money
• Business money
• Mixed receipts
• Client and business bank accounts
• Bills and written notification of costs
• Disbursements
• Receipts and payments
• Cash transfers
• Inter-client transfers
• Client ledgers
• Double-entry bookkeeping
• Debit and credit entries
• Transfers for fees
• Interest
• Banking facility restrictions
• Correcting breaches
• Shortfalls and improper withdrawals
• Key SRA Accounts Rules distinctions

The guide places particular emphasis on classifying the money first and then following the transaction through to the correct debit and credit entries, helping reduce mistakes caused by memorising accounting entries without understanding the underlying transaction.

The resource is designed for use when consolidating Solicitors Accounts, preparing for mocks or completing final-stage revision before the SQE1 examination.

Please note: This is an independently prepared revision resource and is not affiliated with, approved by or endorsed by the SRA, Kaplan, any university, education provider or SQE training provider. It is intended as a supplementary study aid and should be used alongside the official SQE assessment specification and your main study materials.