SRA Accounts Rules compliance

Easily meet the requirements of the SRA Accounts Rules

More legal practices are intervened by the SRA because of beaches of the SRA Accounts Rules than for any other reason. This is because they’re so easy to fall foul of. Osprey provides a fully integrated, compliant legal accounting and case management software that sets excellent foundations for you to run a compliant firm. Streamline your accounts processes, provide better visibility for your cashiers, and standardise processes to ensure you’re meeting SRA compliance requirements.

Running a law firm is easier with SRA compliant legal software

Pass SRA audits    

Access the financial data you need to proactively monitor performance and evidence the quality standards your firm has in place to meet SRA compliance standards and pass annual SRA audits.

Mitigate compliance risks

Connecting and centralising processes provides the accounts team and management better visibility and control over client and office accounts to mitigate risk and ensure compliance.

Reduce errors  

Single entry of data, integration with your case management software, and automated workflows helps to reduce errors at every stage of client billing and accounting.

Functionality to ensure law firm’s are compliant with SRA Accounts Rules:  

Extensive reporting functionality  

Use over 50 core reports, build custom reports with the report writer, or build interactive real-time dashboards to access the financial data you need.

Integrated requisition software

Fee earners can easily raise requisitions for a client that is easily posted to the client ledger or rejected by the accounts team.

Interest calculator

Set up interest rates, bands, and accrual periods within Osprey so you can easily calculate the interest rates due for each client and matter.  

Key dates & reminders

Workflows can prompt users throughout a case to complete required compliance tasks and ensure key dates are set in calendars to ensure deadlines aren’t missed.

AML Checks & Verification of Identity and Funds

Utilising the InfoTrack integration, data captured in Osprey can be auto-populated into InfoTrack forms to complete AML checks and to verify source of funds and digital identities.

Client care letter template

Create your client care letter template, with agreed terms and conditions, within Osprey and utilise the data stored in the matter history to populate the document to share with clients during the onboarding process.  

Legal accounting & billing software

To be in control of your finances, law firms need visibility. With Osprey you’ll have 360-degree view of your client and office accounts, with side-by-side client ledger postings and support for as many bank accounts and currencies as you need. Easily manage your business finances, using the nominal ledger for all your practices’ outgoings, invoices and receipts. Utilise a fully integrated SRA compliant solution to make running your law firm easier.

Core client financial reports

Within the 50 core reports that are included in Osprey as standard, you can access key accounting and client financial reports that help you meet SRA Accounts Rules. These include:

Client reconciliation
Client funds movements
Ledger balance
Unpaid disbursements
Cost transfer
Interest calculation

How legal tech can help law firms stay compliant with the SRA Accounts Rules

Download this free guide to discover guidance on how your legal tech – primarily case management and legal accounts software – can assist in meeting the requirements of the SRA Accounts Rules. Reduce errors, improve visibility, and gain control of your client and office accounts with ease.

See all SRA compliant tools in action

The Osprey Approach All-in-One Solution

The complete Osprey Approach solution combines comprehensive case management, powerful practice management, legal accounting, and a secure web portal so you can run an effective and profitable firm.

Discover more features that streamline your legal accounting processes:

Access better software support and an all-in-one solution

Upgrade your practice and case management system today, to Osprey, and make it easier to run your firm. Book an initial demo to see the software in action, get pricing details, and information on our implementation and data migration services.

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