Services

Insurance Agency Accounting Services

We offer the following local and virtual services tailored specifically for Independent Insurance Agents:

• Agency Bill/Premium Payables Reconciliation – We will reconcile agency bill, broker, and other account current statements to the items in your management system. We will enter the disbursement and notify agency when ready. In addition, we will reconcile the payable balance on your balance sheet to the items due to the carriers.

• Direct Bill Commission Reconciliation – We will reconcile, record, import, or process commissions in suspense for your direct bill transactions. Based on the distributions of your income we will make sure the corresponding income accounts reflect the income received from the carriers. In addition, we will issue disbursements for return commissions due to carriers.

• Producer Payables – During the Month End Process we will run producer reports for your review. Once approved we will issue disbursement

• Vendor/Carrier Payables – We will enter disbursements for your vendor payables

• Deposits – With access to your deposit details or deposits imaged in, we will apply payments within your management system

• Bank and General Ledger Reconciliation – Bank and General Ledger Reconciliation – Reconcile bank statements for the cash accounts on your balance sheet, post, and provide the following standard reports: Aged Accounts Receivable, Trial Balance, etc.

• Period End Accounting Reports Preparation – We will prepare period end reports (Profit & Loss, Balance sheet, etc.)

• QuickBooks Account Set-Up – We will assist with setting up your chart of accounts and help to integrate with your management system if available

• Management of Integration between Agency Management System and Accounting Software – We will monitor and properly classify transactions imported from Agency Management System into QuickBooks.