Client Funds

Commingling of Funds
The practice of mixing personal funds with client or customer funds by a fiduciary or trustee, which is generally prohibited by law unless an exact accounting is maintained.
Solicitors' Accounts
Solicitors' Accounts are specialized financial records prepared under the Solicitors' Accounts Rules, emphasizing the separation of client funds from the solicitor firm's own funds to ensure transparency and trust.

Accounting Terms Lexicon

Discover comprehensive accounting definitions and practical insights. Empowering students and professionals with clear and concise explanations for a better understanding of financial terms.