Helping Accountants protect and segragate client money more efficiently
Accountancy practices in the UK and Ireland are regulated by the five CCAB Institutes – Institute of Chartered Accountants in England and Wales (ICAEW), Association of Certified Chartered Accountants (ACCA), The Chartered Institute of Public Finance and Accountancy (CIPFA), Institute of Chartered Accountants in Scotland (ICAS) and Chartered Accountants Ireland (CAI).
Regulation governed by these bodies for the protection of client money are very similar, requiring segregation of client money from firm money in separately designated bank accounts with regular reconciliations to protect cash held in trust for clients.
Our solution connects to the practice’s existing client money designated bank account and virtualises it into as many virtual bank accounts needed for each client. The system gives full flexibility with account naming to ensure you can meet the requirements of regulation and best practice.
For more information, contact the team to discuss your requirements or request a demonstration.
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To find out more about how Cashfac's solutions can help your business, get in touch with our helpful team