Residual balances and unclaimed client money

Residual balances

Finance, Client account, Residual balances lists the client money left on matters that are closed or archived, or that has not moved for the firm's dormancy days: the matter and its client, what is held, the last movement and how many days since. Filter by why the balance is residual or by currency, and export the list.

The unclaimed register

Where the firm cannot return a balance, choose Put on the unclaimed register on its row and say why. The entry keeps the balance as it was when entered and shows what the ledger holds now.

On the entry, Record effort keeps each attempt to find the client: the day, how (a letter, an email, a call, a visit, a newspaper notice), what was done and what came of it. Efforts are kept as written and never changed.

An entry ends in one of two ways:

• Mark returned, naming the refund voucher, carried out, that paid the money back;
• Mark transferred, with the authority it went to and its reference, by the route the firm's lawyer confirms.

Interest on client money

Interest records the interest a bank credits to a client account: the account, the period, the day credited and the amount. Each record keeps the firm's attribution policy as it stood (to the matters in proportion, to the office, or held for the clients), set under Settings, General, Ledger. The record and its report exist; working out each matter's share is not yet part of the system.