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1. insuranceagencyaccountants.comInsurance Agency Accounting and Bookkeeping (IAAB ...

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   IAAB is the leading outsourced bookkeeping & accounting firm for Applied Epic and Vertafore AMS360 agencies. IAAB, formed in 2007 to help Independent Insurance Agencies throughout the United States manage their accounting and bookkeeping, currently has over 40 staff members across the United States. IAAB is headquartered in Connecticut. Know More

   • Applied Epic Agencies

     We are experts in the insurance agency general ledger and...

   • AMS360 Agencies

     We are experts in the insurance agency general ledger and...

   • The IAAB Team

     182 Birge Park Rd, Harwinton, CT 06791 860-614-7268...

   • Contact Us

     Insurance Agency Accounting & Bookkeeping (IAAB) 182-2 Birge...

   • Brenda Dicarlo

     Outside of accounting Brenda enjoys volunteering for civic...

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   • Mariangela DiCesare

     Mariangela is an Accounting Clerk who joined IAAB in 2022....

2. www.agencybrokerage.com › resources › blogAccounting Best Practices for Insurance Agencies

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   Expenses. The largest expenses incurred in most P&C agencies are payroll and commissions paid to the producers. These expenses can account for 30% to 50% of the commission revenues received by an agency. A “best practice” is to break out the payroll and commissions as separate expenses so the agency owner can better understand the costs ...

3. www.insurancejournal.com › magazines › mag-idea10 Agency Accounting Tips to Keep in Mind - Insurance Journal

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   • Don’t Use QuickBooks. QuickBooks is a great system for most businesses but not insurance agencies. Never use QuickBooks unless you have a high degree in accounting and possess significant insurance agency specific accounting knowledge so you can address agency bill business correctly.
   • Fiduciary Funds. No matter what you might think, agencies are responsible for fiduciary funds. The responsibility is memorialized in your carrier contracts and all 50 states, plus the federal government, require agencies to treat these fiduciary funds appropriately.
   • Premiums. No matter what your accountant/CPA says, premiums received are not income, and premiums paid are not expenses. Those agency premiums are fiduciary funds.
   • Cash Versus Accrual. Agencies are not 100 percent cash, and they are not 100 percent accrual. For example, contingency income is effectively accrued, but because so many carrier contracts and behaviors make adequately accurate and certain assessment of the bonuses as of 12-31 difficult if not impossible, contingencies are generally treated on a cash basis without regard to how an agency does its accounting.

4. www.angelaadamsconsulting.com › insurance-accountingAccounting Services - Angela Adams Consulting

   www.angelaadamsconsulting.com › insurance-accounting

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   Insurance Accounting. Angela Adams Consulting employs the insurance industry’s top accounting experts. We introduced the concept of virtual accounting and now offer a robust a-la-carte menu of services designed to meet the temporary or ongoing needs of agencies all over the country. Our team, comprised of over 30 accounting professionals with ...

5. www.cogneesol.com › insurance-accounting-servicesAccounting Services for Insurance Companies, Agencies & Brokers

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   Accounting for insurance companies, including bookkeeping, bank account reconciliation, tax preparation along other accounting services are just a couple of offerings we extend to you. Cogneesol’s accounting experts possess years of experience in insurance agency accounting are skilled and professionally trained to cater to our insurance ...

6. Videos

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     How To Set Up Your Agency’s Accounting

     Jun 27, 2021

     2.1K Views

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     7 Tips to Keep Insurance Agency Accounting In Order!

     Oct 26, 2018

     892 Views

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     2:22

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     What kind of accounting do insurance companies use? | Bookkeeping for Insurance Companies

     Oct 11, 2023

     121 Views

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7. www2.deloitte.com › us › enInsurance Accounting Guide | Deloitte US

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   rsojkowski@deloitte.com. +1 860 725 3094. Joe DeSantis. Insurance Industry — Audit Leader. Deloitte & Touche LLP. jdesantis@deloitte.com. +1 860 725 3113. Bala Bellur. Managing Director — Insurance Professional Practice.

8. www.remotebooksonline.com › blog › bookkeeping-forBookkeeping for Insurance Agencies: A Guide to Financial ...

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   Accounting Software: Streamlining Bookkeeping for Insurance Agencies. In the digital age, technology has reshaped the landscape of business operations, and bookkeeping is no exception. For insurance agencies seeking to optimize their financial processes, investing in reliable accounting software is a strategic move that yields numerous benefits.