Bookkeeping for Legal Finance Professionals (Diploma Level)

Objective: To provide a sound foundation in accounting through the introduction of double entry bookkeeping and its application through practical and essential resources. Legal accounts qualifications, through our recognised courses, offer you greater access to business and management training, enhancing your career in accounting and bookkeeping at a higher level.

If you decide to take this course: Bookkeeping for Legal Finance Professionals first, you could the follow it by our Legal Finance Compliance & Accounts Rules course. By doing both of these courses you would achieve the Diploma qualification. Have a browse of our website to find out more, or send us a message. We'd recommend becoming a member of the ILFM because of the plethora of support, training, advice, real-time communication, training, qualifications and back-up.

Let's concentrate on the qualification in hand though, including how long does it take to become a bookkeeper in the UK? All the answers are below.

Double Entry Bookkeeping Course

What is the best bookkeeping course to do for legal finance professionals?

The Institute of Legal Finance Management's bookkeeping course takes a step-by-step approach and will give you confidence in progressing to a higher level in your professional career. Bookkeeping is the foundation to all business accounts; from every transaction recorded to how it is recorded - because this will have a massive impact on the financial statements for the business.  

Our bookkeeper course has been designed to assist students that have little or no knowledge in bookkeeping, or those that have never studied a professional qualification. The level of requirement is basic to the needs of the course,

Our legal finance bookkeeping course will show you the classic "open Monday to Friday" accounting in a law firm. We teach you the recordings of financial transactions in the appropriate ledger accounts by using the double entry bookkeeping system.  Importantly, if you are out of balance within your accounting software this course is perfect to help you work out and understand how to find your difference. 

This course will teach and support you from the initial recording of a transaction to its trial balance. Our training aims to give you full confidence in your legal finance knowledge for this accounting qualification.

Contents of the course:

  • Tutorial 1   The Purpose of Accounting
  • Tutorial 2   Double Entry bookkeeping
  • Tutorial 3   Nominal Ledgers
  • Tutorial 4   Petty Cash
  • Tutorial 5   Sales
  • Tutorial 6   Purchases
  • Tutorial 7   Trial Balance
  • Tutorial 8  VAT
  • Tutorial 9   Bank Reconciliation
  • Tutorial 10  Introduction to Payroll
  • Tutorial 11 The UK Banking System

Each tutorial contains self test questions and an assignment to be submitted for marking.

We get asked "How do I teach myself bookkeeping?" and our best answer is, with help and support from the ILFM! "Can I be a bookkeeper without a degree?" Yes!! Join us and let's get your kickstarted with fully understanding bookkeeping, accounting, double entry and finance whilst gaining ILFM qualifications.

We also highly recommend these ILFM Trainings, to help your in your course :  The Fundamentals of Legal Cashiering.

When it comes to money, compliance, costs and regulations surrounding legal finance professionals working with solicitors we certainly have you covered. Our registered office is near London, but we are a national organisation for excellence, with online forums, training and events.

 


All Inclusive Coursework and Examination Fee:  £495

You are given 18 months to complete the coursework and enter for the exam (each course can be completed sooner).  Please check if you are entitled to any exemptions by holding other relevant qualifications.

Coursework

  • Full access to online course material (for 18 months)
  • Dedicated UK Based ILFM tutor, inc one-to-one support and feedback
  • Access to students forum
  • Employer updates (if required)
  • Individual Study Plan
  • Full access to student extra resources online

Exam Preparation

  • Dedicated ILFM tutor (one-to-one support)
  • Sample examination Paper/Questions
  • Exam preparation material
  • Employer updates (if required)
  • Exam preparation session (format may vary)

We highly recommend attending the Exam Preparation Day. Our statistics show that students attending do have more success in their exam. Our tutor will go through the exam process, the format of the exam and tips in preparing for it in advance, and on the day. It is a chance for students to meet their tutor face-to-face, go through any queries they may have, and go practise transactions learned within the course.

The exam preparation day will include:
  • Exam Format & Techniques 
  • Double Entry
  • Trial Balance
  • Transaction questions 
  • PAYE transactions
  • Multiple choice questions
  • VAT 
  • Bank Reconciliation
  • Exam type questions with an additional question to take away for revision.

Examination

  • One Examination Entry Fee included (students wishing to take the exam locally will be required to pay any additional costs incurred)
  • You are expected to sit the exam either within the 18 months given or shortly thereafter

Bookkeepers are integral to a business; they record the financial transactions and balance the financial accounts for their firm. Legal bookkeeping is so important, as it takes place before any accounting can occur.

Click here to see Part Two of the ILFM Diploma Legal Finance Compliance & Accounts Rules (LFCAR)