Keeping Records List of Categories

Page 1 Page 2 Page 3

When should I count my fee as income?
How long must I hold on to old client records?
Should I use a ledger for expenses tracking?
Can I use the ACM Pro as a ledger?
When should I count my fee as income?

For accounting purposes, you should not count your advocacy fee until the case has been successfully completed and the fee has been paid.

To top
How long must I hold on to old client records?

We recommend a period of at least three to four years. The reason for this is because of the possibility that the case might be called for review within three years of the decision. This is called a Continuing Disability Review or CDR. CDR reviews are usually set as diary date given at the time benefits were awarded.

To top
Should I use a ledger for expenses tracking?

A ledger is a summery of revenues and expenditures. The information placed into a ledger comes from receipts gathered in the day-to-day operation of your service. You can use a ledger to track any type of financial information including transaction dates, amounts, purpose, time spent, etc.

To top
Can I use the ACM Pro as a ledger?

Not only can you use the ACM as a ledger, we encourage you to do so. The ACM Pro enables you to enter and track every single action taken on behalf of a client and the amount of time spent executing those actions. The built-in tracking system then allows you to generate a complete fee petition attachment which can be presented to Social Security as proof of work performed.

To top

Page 1 Page 2 Page 3