According to the requirements of the Law Society, you must keep the following records for at least ten full fiscal years:

  • Trust receipts journal
  • Trust disbursements journal
  • Client trust ledger
  • Monthly trust comparisons, including supporting trust bank reconciliations and client trust lists
  • Valuable property record
  • Bank statements or pass books, cashed cheques, and detailed duplicate deposit slips for all trust and general accounts
  • Signed electronic trust transfer requisitions and signed printed confirmations of electronic transfers of trust funds

 The remaining records should be maintained for six full fiscal years. The records include:

  • General receipts journal
  • General disbursements journal
  • Fees journal or chronological file of copies of billings