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
