How conveyancing money moves through a solicitor's accounts — the ledger entries that track deposits, mortgage funds and completion monies from exchange to final settlement.
A single purchase or sale generates a chain of receipts, payments and transfers, and each one must land in the right ledger at the right time. This chapter begins with the types of money that flow through a conveyancing transaction and the special treatment of stakeholder and agent deposits, then sets out the double-entry foundations: recording receipts, payments and inter-client transfers. From there it walks through the sequential entries made by the buyer's solicitor — deposit, mortgage advance and completion — and the seller's side, including releasing the stakeholder deposit, redeeming the mortgage and accounting for net proceeds. It closes with failed transactions, forfeited and returned deposits, bridging loans and the deduction of fees, before pinning down the timing rules the SRA Accounts Rules impose on paying in client money and recording completion entries.
