Bookkeeping Guide

Amended April 2022

Table of Contents
Preamble
Introduction: Why Keep Books and Records?
Types of Accounting Systems
Bank Accounts
   1. Cash Receipts
   2. General Account
   3. Trust Accounts
   4. Financial Institutions for Trust Accounts
   5. Inactive Trust Balance & Stale Dated Cheques
   6. Opening or Closing a Trust Account
   7. Designation of Trust Account
   8. Cybersecurity
   9. Types of Trust Accounts
       a) Mixed Trust Account
       b) Separate Interest Bearing Trust Account
   10. Practising in Association
   11. CDIC Disclosure
Maintenance of Books and Records
Disbursing Trust Funds
1. Cheques vs. Bank Drafts
2. Internet Trust Disbursements
Client Identification and Verification Requirements
Credit and Debit Card Payments
Automated Banking Machines
Conclusion

Appendices
By-Law 9 | Law Society of Ontario 
Form 9A - Sample Completed Form 9A
Sample Letter of Direction to the Law Foundation of Ontario  
Report on Opening or Closing a Trust Account
Internal Control Self Assessment Guide
Identification and Verification - Lawyer 
Frequently Asked Questions about Client Identification and Verification - Lawyer 
Client Identification, Verification, and Monitoring File Forms - Lawyer 
Summary of By-Law 9 Record Keeping Requirements

For Lawyers:
Real Estate Accounting
Private Mortgages - Record Keeping
By-Law 9: By-Laws | Law Society of Ontario 
Form 9B - Sample Completed Form 9B
Form 9C - Sample Completed Form 9C
Form 9D - Sample Completed Form 9D
Form 9E - Sample Completed Form 9E
Estates & Powers of Attorney Record Keeping

Sample Books and Records
Sample Books and Records for Paralegals
Sample Books and Records for Lawyers

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Bookkeeping Guide

Preamble

We have written this Guide to help licensees of the Law Society of Ontario and their staff manage the more common bookkeeping issues that arise in law and legal services practices and also to better understand the Law Society’s By-Law 9. While written especially with sole practitioners and small firms in mind, these recommendations can be used in any size firm. The Guide provides general advice; it does not cover every possible situation that can arise, and it is not legal advice.

If you have questions about the By-Laws, you can call the Law Society Practice Management Helpline at 416-947-3315 or toll free 1-800-668-7380 ext. 3315.

You can also check the Law Society’s Web site: Practice Management Topics - Lawyer  , and Practice Management Topics - Paralegal ,  in particular: Managing Money - Lawyer and Managing Money - Paralegal . If you have specific bookkeeping, accounting, or tax questions, we suggest that you consult an accountant or lawyer who practises in these areas.

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Introduction: Why Keep Books and Records?

There are several reasons to keep books and records:

The Law Society sets out in By-Law 9, the minimum mandatory requirements for books and records to be maintained by licensees. The minimum mandatory requirements are aimed at protection of the public and therefore focus on trust records.

General trust law requires trustees, including licensees holding client funds, to be able to account to beneficiaries at any time. In order to do this, you must record the money you receive from each client, the money you disburse for each client, and what the unexpended balance is for each client. You also have to keep your bank statements (not just internet transaction activity reports), deposit slips, and documents signed by a licensee authorizing each withdrawal (e.g. cashed cheques, Forms 9A and bank confirmations, etc.), as independent records (source documents) of your trust transactions.

But the most important reason to keep books and records is because it is in your best interest. By maintaining complete, accurate, and up to date records, you will have current financial information available so you can make sound financial decisions about your practice. Proper accounting records also help you to meet your statutory obligations in filing reports on time to the Canada Revenue Agency for income tax and HST, to the Lawyers’ Professional Indemnity Company (LawPRO) for lawyer’s transaction levies, and to the Law Society for your Annual Report Filing.

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Types of Accounting Systems

There are several different kinds of accounting systems:
•             manual double entry
•             one write
•             spreadsheet software (e.g. Excel)
•             general accounting software, and
•             law firm specific accounting/practice management software.

When choosing an accounting system, you should consider what will work best for your practice - the number of transactions you have, whether you maintain your records yourself or hire someone to do them for you, what you can afford, and how well you understand bookkeeping and computer programs. You should consult with your bookkeeper, if applicable, before making a decision, as bookkeepers are not familiar with, nor comfortable using, every accounting system.

Please note that the Law Society cannot make this decision for you. You must determine what system is right for you, your bookkeeper if applicable, and your practice. Also, remember that you are responsible for reviewing and understanding your firm’s accounting records and ensuring they are compliant with By-Law 9 requirements.

Type of system	Advantages	Disadvantages
manual double entry	simple inexpensive	time consuming if large number of transactions does not automatically post to subledgers arithmetic errors more common
one write	simple inexpensive posts to subledgers	time consuming if large number of transactions arithmetic errors more common
spreadsheet software	inexpensive automatic calculations	time consuming if large number of transactions requires training errors due to incorrect formulae are more difficult to detect
general accounting software	automatic calculations posts to subledgers produces financial reports	reports not designed for trust accounting requires training
legal accounting software	designed for trust accounting automatic calculations posts to subledgers produces financial reports	expensive requires training

 

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Bank Accounts

You may have as many bank accounts as you need to operate your practice, but keep in mind that each bank account increases your record keeping obligations.

Most firms will have at least one general account and one mixed trust account. It is important to understand what money goes into your trust account and what money goes into your general account.
Whenever you receive money:
•             on behalf of a client
•             for future disbursements
•             for future or unbilled legal services
•             an overpayment of your billed services
you are receiving trust funds and must deposit it immediately into your firm’s trust account. Once you receive trust funds, you have a fiduciary duty and are responsible for those funds.  You should deposit the funds no later than the end of the next banking day.

In the case of an overpayment of your billed services, you must transfer the amount that belongs to you to your general account, and refund the excess to the client from trust as soon as practical.
Note: Undischarged bankrupt licensees are not permitted to handle or have trust accounts in their names (section 2 of By-Law 9). By-Law 9 | Law Society of Ontario 
 
Whenever you receive money that is entirely:
•             payment for completed legal services for which you have sent the client a bill
•             reimbursement for proper expenses you have made on behalf of a client
•             your or your firm’s money
it should be deposited to your non-trust general account.

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1.Cash Receipts

When you receive cash, whether in trust or for your general account, in addition to recording the receipt in either your trust receipts journal or general receipts journal as appropriate, you must prepare a duplicate cash receipt that identifies:
•             the date you received the cash
•             the name of the person from whom you received the cash
•             the amount of cash you received
•             the name of the client, even when it is the same person who gave you the cash, for whom you received the cash and any related file number
and contains:
•             your signature or the signature of a person authorized by you to accept cash
•             the signature of the person from whom you received the cash

There is a sample duplicate cash receipt in this Guide. See section #11  under the Sample Books and Records for Lawyers and the Sample Books and Records for Paralegals

You may not accept cash equivalent to more than $7,500 Cdn with respect to any one client file except as permitted by section 6 of By-Law 9. By-Law 9 | Law Society of Ontario 
 

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2. General Account

The general account is your firm’s operating account. This is the account you use to:
•             deposit payments from clients you have billed for completed legal services
•             pay your firm’s expenses: rent, office supplies, staff salaries, bank charges, etc.
•             pay disbursements on behalf of your clients
•             pay yourself

You must not have money in this account that belongs to clients.

You should avoid using a personal account as your firm’s general account. Whatever bank accounts you use for your practice must be produced on request of the Law Society. Personal accounts may not have the bank statements, returned cheques, and duplicate deposit slips you are required to keep for all your practice bank accounts.

For convenience, it is usually best to have your general bank account at the same financial institution as your trust account.

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3. Trust Accounts

The trust account is for your clients’ money, so if you do not receive trust funds in your practice, you do not need to open a trust account. Trust accounts are to be used only for the provision of legal services:
By Law 9
s. 8 (2) 3. A licensee shall not pay into a trust account…money that is not directly related to legal services being provided by the licensee

Rules of Professional Conduct
Rule 3.2-7.3 A lawyer shall not use their trust account for purposes not related to the provision of legal services

Paralegal Rules of Conduct
Rule 3.02(6) A paralegal shall not use his or her trust account for purposes not related to the provision of legal services.

Trust accounts are the accounts you use, for purposes directly related to the provision of legal services, to:
•             deposit money you receive from your clients to be paid to another party
•             deposit money you receive from other parties on behalf of your clients
•             deposit money you receive from clients for future legal services and disbursements
•             disburse money as directed by your clients
•             reimburse your firm for proper expenses you have made on behalf of your clients
•             transfer money to your general account for fees after you have sent a bill to your client for completed legal services, describing the services you provided and a detailed list of disbursements you paid on behalf of the client.
 

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4. Financial Institutions for Trust Accounts

Your trust accounts must be kept at one of the following institutions:

• chartered bank
• provincial savings office
• credit union or central subject to the Credit Unions and Caisses Populaires Act, 2020
• registered trust corporation

When opening a trust account, check with the financial institution to make sure

• it has an agreement with The Law Foundation of Ontario for the payment of interest on mixed trust accounts
• it can provide you with the monthly bank statements and returned cheques, including certified cheques, as required by By-Law 9 (imaged cheques, clearly showing front and back of cashed cheques, are acceptable)

A client might ask you to hold trust funds in an account that is not at one of the above-noted institutions. For example, the client could ask you to hold the trust funds in Treasury Bills or a money market fund. In these situations, section 8 of By-Law 9 requires you to get written instructions from your client to pay the money into a non guaranteed trust investment. This money, however, must be recorded in your trust records as it is still your client’s money and considered trust funds for the purposes of By-Law 9.

The same precautions that apply to separate interest bearing trust accounts also apply to these types of investments. These kinds of investments are generally not guaranteed, so you will want to be sure your client understands the nature of the investment and whether there will be sufficient funds available when the client needs them before accepting your client’s written instructions.
 

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5.Inactive Trust Balance & Stale Dated Cheques

You must not leave trust funds in your trust account once the client’s matter is completed and you have sent a fee bill to the client.
By-Law 9
s. 8.1.  A licensee shall not keep in a trust account money related to legal services being provided by the licensee beyond a minimally reasonable amount of time after the legal services have been performed.

You should review your client trust ledger accounts monthly. Any amounts that can be billed and transferred to the general account or refunded to the client should be done promptly.

If the trust reconciliation shows cheques that have been outstanding (i.e. not cashed/deposited by the payee) for more than a few months, follow up with the payees to find out whether they received the cheques. Once a cheque is stale dated, (i.e. has not been cashed within six months from the date of the cheque), you should stop payment on the cheque, re-establish the liability in the client trust ledger account for the applicable client, and reissue the cheque if appropriate. If you are unable to locate the client, despite having made reasonable efforts to do so throughout a period of two years, you can apply to pay the money to the Law Society’s Unclaimed Trust Fund. Information on the fund and the Application Form can be found on the Law Society website: Unclaimed Trust Fund | Law Society of Ontario 

Note that efforts to locate a client is not considered legal services and cannot be billed. This is your obligation as a fiduciary and trustee and another reason why you need to obtain sufficient client contact information at the beginning of a retainer.
 

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6. Opening or Closing a Trust Account

Whenever you open or close a trust account, you must immediately inform the Law Society in writing of the location and account number of any account into which you have deposited client trust funds:
By-Law 8 subsection 4(1)5. By-Law 8 | Law Society of Ontario 

The form to advise the Law Society is available on the Law Society website: 
Report on Opening or Closing a Trust Account 

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10. Practising in Association
 

If you are a sole practitioner practising in association with other licensees, you must have your own separate trust account and separate books and records for your trust transactions.
For additional information see the following: Associates versus Association - Lawyer | Law Society of Ontario 

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Maintenance of Books and Records

If you handle Trust funds, the books and records currently required to be maintained under By-Law 9 include:
•             Trust Receipts and Disbursements Journals (or one combined Trust Bank Journal)
•             Client Trust Ledger, with a separate account for each client
•             Trust Transfer Journal, if you transfer funds between different client trust ledger accounts
•             Fees Book and/or Chronological Billings File
•             Monthly Trust Reconciliations
•             Monthly Client Trust Listings
•             Monthly Trust Comparisons
•             Source Documents including Trust Bank Statements, (imaged) cashed cheques (including certified cheques) and detailed duplicate deposit slips
•             Form 9A and printed bank confirmations for all electronic Trust transfers, if you use the internet to transfer trust funds
•             Duplicate Cash Receipts Book if you receive cash. 
 
In addition, you are required to maintain the following books and records for your general/business account:
•             General Receipts and Disbursements Journals (or one combined General Bank Journal)
•             Fees Book and/or Chronological Billings File
•             Source Documents including bank statements, (imaged) cashed cheques and detailed duplicate deposit slips.
•             Duplicate Cash Receipts Book if you receive cash
Retention Periods

You must keep your financial records available for the time periods set out in section 23 of By-Law 9. This means you must keep the records described in section 18 of By-Law 9 for:

1. The most recent six (6) full years plus the current year:
•             Record of transfers between clients’ trust ledger accounts
•             General Account Receipts and Disbursements Journals
•             Fees book or chronological (i.e. in date order) file of billings to clients
•             Book of duplicate cash receipts
•             Referral fee receipts record, disbursements record, and all documents related to each referral fee transaction

For lawyers only:
•             Signed authorizations of withdrawals by Teranet (Form 9B) 
•             Signed paper copies of confirmations of Teranet withdrawals                                                                                                                        
2. The most recent ten (10) full years plus the current year:
•             Trust Account Receipts and Disbursements Journals
•             Client Trust Ledger
•             Monthly Trust Comparisons for all trust accounts supported by trust bank statements (not just internet activity printouts), trust account reconciliations, and client trust listings
•             Valuable Property Record
•             Bank statements (not just internet activity printouts), including GIC, term deposit or other bank confirmations; pass books; cashed cheques, including certified cheques, and any imaged cheques if provided by your financial institutions in place of the actual cheques; detailed duplicate deposit slips for all of your firm’s bank accounts
•             Signed requisitions for electronic transfers of trust funds (Form 9A)
•             Signed printed bank confirmations of electronic transfers of trust funds

While section 22 of By-Law 9 requires you to keep your records current at all times, ensuring your financial records are accurate, legible, detailed, and up to date will help you to operate your practice more efficiently. It can be very costly both in time and money and can damage your client relationships to let your records fall into arrears. The CDIC also requires that your trust records be current.

While section 21 of By-Law 9 permits you to keep your financial records electronically, you must be able to produce paper copies of your records for the Law Society for the time periods described in section 23 of By-Law 9. We suggest you print your journals and records monthly to avoid the all too common problems with computer crashes, data corruption and software update incompatibility.  You should routinely back up financial records, and have a backup schedule that would allow you to re-enter in a day, any data lost since your last backup.  If you prepare any of your financial records by hand, they must be permanent, i.e. in ink or permanent photocopies, and legible.

Vigilance in Maintaining Records

Keep in mind that whether you do your own record keeping, assign it to a staff member or retain a bookkeeper or accountant to maintain it, you, (and your partners if any), are responsible for ensuring that your firm maintains the required records and follows the money handling requirements in By-Law 9. You should ensure that whoever is maintaining your accounting records is familiar with the Law Society’s By-Law 9. Some items you and your staff should be vigilant about are:
•             Checking for overdrawn or inactive client trust ledger accounts
•             Checking for uncorrected or unexplained reconciling items on the trust bank reconciliations
•             Checking for trust receipts and deposits outstanding beyond the following banking day
•             Reviewing the trust comparison for accuracy by the 25th of the following month

You should ensure that you have control of your accounting records at all times and that they are kept secure and confidential.

Consult the sample Internal Control Self- Assessment Guide in the Appendices for these and other internal controls appropriate for your firm, especially if your firm handles client trust funds, to ensure you and your staff are following proper internal control procedures.

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Disbursing Trust Funds

It is important to keep an audit trail, recording each step and preserving original and supporting documentation (source documents such as bank statements, cashed (imaged) cheques, duplicate deposit slips, photocopies of completed bank drafts, Form 9A and related bank confirmation, etc.), for all transactions in a business, but especially if you handle client trust funds. A licensee of the Law Society who is permitted to handle trust funds must always initiate a trust disbursement and do so in writing, which then becomes part of the accounting records.

Section 9 of By-Law 9 allows you to withdraw trust funds you are holding for a client for the following reasons only:
•             to make a properly required payment to or on behalf of the client
•             to reimburse your firm for proper expenses incurred on behalf of the client
•             to pay your firm fees for completed legal services for which you have sent a fee bill to the client
•             to transfer funds to another trust account for a client
•             to withdraw funds that, according to By-Law 9, should not have been deposited to the trust account
 
You may disburse trust funds by cheque, bank draft and wiring funds through your bank.

You may disburse trust funds by internet banking only if you follow the requirements of section 12 of By-Law 9. By-Law 9 | Law Society of Ontario 

Never sign any of these documents disbursing trust funds unless the document is fully completed: date, payee name, amount in words and numerals, and if applicable, a reference for the payment.

If you withdraw trust funds to pay your fees and/or disbursements, section 10 of By-Law 9 limits you to the follow methods: a cheque payable to you or your firm, transfer to a non- trust account in your or your firm’s name, or electronic transfer.

Withdrawing trust funds in cash is risky and should only be done on the client’s written instructions; but note that if you received fees, disbursements, or expenses in cash, Section 6(d) of By-Law 9 requires that you make any refund of those payments in cash. You should always get a detailed receipt signed by the payee for any cash disbursement.

Do not disburse trust funds from an automated teller machine (ATM), as you will not have an adequate audit trail.

Always check your clients’ trust ledger to ensure you hold sufficient funds in trust for a particular client before disbursing funds for that client. You should confirm your financial institution’s holding periods on funds to be sure cheques you have deposited from clients have cleared and will not be returned NSF (not sufficient funds).

1. Cheques vs Bank Drafts

You should be aware that cheques leave a better audit trail than bank drafts.

Cashed cheques, including certified cheques, are your records and you must arrange for your financial institution to return them to you with your bank statements each month. Some financial institutions provide imaged cheques which are sent to your firm electronically, and are acceptable as complying with section 18(10) of By-Law 9 as long as they are legible and include images of both front and back of the cashed cheque.

Bank drafts are the financial institution’s records. Financial institutions do not usually retain their original records for the ten-year time period that you are required to keep your bank records. Returned cheques confirm that the funds have cleared and have the endorsement details on the back. Your copy of a bank draft will not confirm any of this information and you may have to spend time and money to obtain a copy of the bank draft from your financial institution to prove payment. It would be prudent to make a photocopy of each completed bank draft before disbursing them and keeping the photocopy in your financial records.

If you have any doubts about the validity of a cheque, certified cheque, money order, bank draft, or other receipt to be deposited to your mixed trust account, you might want to consider depositing it to a separate trust account; if the instrument does turn out to be fraudulent, your mixed trust account will not be affected. Be vigilant not to disburse any trust funds until your financial institution can assure you that the funds have cleared. Different institutions have different clearing periods depending on the source of the funds.

You must not issue trust cheques or bank drafts payable to “cash” or “bearer” (section 11 of By-Law 9) and you should withdraw cash from the trust account only when necessary (e.g. refunds of fees, disbursements, or expenses paid in cash in compliance with subsection 6(d) of By-Law 9), and always obtain a detailed receipt for your audit trail.

2. Internet Trust Disbursements

If you disburse any funds using on-line banking, you must follow the procedure set out in section 12 of By-Law 9: By-Law 9 | Law Society of Ontario 

•             Complete and sign a Form 9A for each client transaction (See the Appendices for a sample completed Form 9A)
(This Form must be signed by a person who has signing authority on your trust account. Except for exceptional circumstances, this must be a licensee of the Law Society who is entitled to hold trust funds.)

•             One person using a password, enters the transfer data as set out in the Form 9A

•             Another person with a separate password, authorizes the transfer
(A sole practitioner without employees may both enter the data and authorize the transaction.)

•             Print the electronic confirmation of the transaction that must include:
i.            your trust account number
ii.          name, branch, and address of the account to which the funds have been transferred
iii.         name of the account to which the funds have been transferred
iv.         number of the account to which funds have been transferred
v.          time and date the transaction details and authorization were received by your financial institution
vi.         time and date the confirmation of the transaction is sent to you from the financial institution
(While this confirmation must be obtained by the end of the next banking day, realistically it may not be available unless it is printed immediately.)

•             No later than the close of the second banking day after the transaction you are to:
i.            compare the Form 9A with the printed confirmation and verify that the money was withdrawn as specified in the Form 9A
ii.          write the client name, client matter and any file number on the printed confirmation
iii.         sign and date the printed confirmation.

Both the Form 9A and printed confirmation must be kept in numerical order by requisition number (which you would assign in sequential order, similar to cheque numbers) with your financial records. You may want to keep a copy in the client’s file as well.

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Client Identification and Verification Requirements - By-Law 7.1 Part III

As of January 1, 2022,  By-Law 7.1 was amended to update the record keeping, money handling, and client and file monitoring of your practice to assist in preventing money laundering.

Client Identification & Verification
Subsection 22 (1) of By-Law 7.1 requires that you obtain specific details identifying your clients every time a client retains you on a new matter; and if you give instructions to receive, pay or transfer funds, then you are also required to obtain verification of the client’s identification and obtain, from the client, information about the source of the funds being received, paid or transferred: subsection 23(2) of By-Law 7.1.

“Source of funds” means the economic activity that generated the funds, or the origin of the funds for the financial transaction. You must record this information and the date you obtained it.

Frequently Asked Questions about Client Identification and Verification - Lawyer | Law Society of Ontario 

You should review subsection 23 (7) of By-Law 7.1 for the acceptable documents, data, and information for verification which subsection 23 (8) requires be authentic, valid, and current.

You should review section 23 of By-Law 7.1 for the amended specific identification and verification requirements, and subsections 22(2), (3) and (4) for exemptions for certain licensees, types of funds, and clients.

You should also familiarize yourself with the amended definition of “financial institution” and “securities dealer” in section 20.

Subsection 23(14) of By-Law 7.1 requires that you keep these records for the longer of the duration of the licensee-client relationship and as long as necessary to provide service to the client, or six years following the completion of the work for which the licensee was retained.

Ensure that you can produce paper copies of all required client identification and verification documents on request: subsection 23(15) of By-Law 7.1.

See the Law Society website for updated Client Identification and Verification information and forms:
Client Identification, Verification, and Monitoring File Forms - Lawyer | Law Society of Ontario 
 

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Credit and Debit Card Payments

If you accept credit or debit card payments from clients, you must make arrangements with your financial institution to have retainers for future fees and disbursements paid directly into your trust account and payments from your clients for your billed fees and disbursements paid directly into your general account. You may not deposit both retainers and payments into one account then immediately transfer the funds that do not belong in that account to your other account.

Accounts from which Discounts and Services Charges are to be Deducted 
The procedures of some credit card companies place licensees in conflict with provisions in By-Law 9. Some credit card companies require merchants (including licensees) to designate only one account into which credit card payments are to be deposited. Additionally, the discount charged by the company is automatically debited from this account.

Any credit card agreement that you enter into must provide that all service charges, discounts and other fees payable by you to the financial institution are to be deducted from your General Account and that no such charges are to be deducted from the Trust Account.

This process will not permit licensees to receive by credit card both retainers and payments for billed fees and/or disbursements. Subsection 2(1) of By-Law 9 requires licensees to deposit funds received in Trust (e.g. retainers) into an account designated as a Trust Account. Meanwhile, subsection 8(2) of By-Law 9 prohibits the deposit into Trust, funds that are “received by the licensee on account of fees for which a billing has been delivered...” As a result, the use of one account for both purposes is not permissible.

The client must receive full credit for the face amount of the invoice payment. The credit card company’s discount or fee is a cost of carrying on your practice and is not to be charged to the client.

You are urged to canvass this issue with credit card companies that you are using or contemplating using. If the company imposes the above restrictions, you can designate only your General Account and thus may receive only payments for billed fees and/or disbursements.

For further information, see the article on the Law Society website: Use of Credit Cards in The Legal Practice

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Automated Banking Machines

If your financial institution offers automated banking machine (ABM) access to your trust account, you may use it for deposits only. Ensure that your bank card is encoded for deposit only.  Read the agreement carefully and make sure you understand the risks involved in using this method of deposit. In some agreements the depositor is responsible for the funds until they are received by a bank representative. You should always print a receipt of an ABM deposit and write the name of the person who gave you the funds and the client reference on the receipt, and keep the receipts in date order with your deposit slips.

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Conclusion

We hope you find the information provided in this Guide assists you in maintaining the books and records of your practice and properly managing your clients’ trust funds.  Remember it is your responsibility as a licensee of the Law Society to ensure you and your firm are in compliance with the Rules of Professional Conduct and/or the Paralegal Rules of Conduct, and the Law Society’s By-Laws.

Keeping clear, complete, and current financial and other required records, and properly handling trust funds not only helps you to stay in compliance with the Law Society’s Rules and By-Laws, it will also make your practice operate more efficiently and allow you to provide better service to your clients.

If you have any questions or comments on this Guide, please contact the Law Society’s Practice Management Helpline at 416-947-3315, toll free 1-800-668-7380 ext. 3315, or visit the Practice Supports and Resources section on the Law Society’s website at:
Managing Money - Lawyer | Law Society of Ontario 
Managing Money - Paralegal | Law Society of Ontario 
 

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Appendices

By-Law 9 | Law Society of Ontario 
Form 9A - Sample Completed Form 9A
Form 9B - Sample Completed Form 9B
Form 9C - Sample Completed Form 9C
Sample Letter of Direction to the Law Foundation of Ontario  
Report on Opening or Closing a Trust Account
Internal Control Self Assessment Guide
Identification and Verification - Lawyer 
Frequently Asked Questions about Client Identification and Verification - Lawyer 
Client Identification, Verification, and Monitoring File Forms - Lawyer 
Summary of By-Law 9 Record Keeping Requirements

For Lawyers:
Real Estate Accounting
Private Mortgages - Record Keeping
By-Law 9: By-Laws | Law Society of Ontario 
Sample Form 9D 
Form 9E - Sample Completed Form 9E
Estates & Powers of Attorney Record Keeping

Sample Books and Records
Sample Books and Records for Paralegals
Sample Books and Records for Lawyers

 

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