Scope sheet
finbryn.com
Insurance accounting
Insurance agency accounting and premium trust reconciliation
A premium trust account holds premiums an agency collects as a fiduciary for the carrier. Finbryn provides the monthly reconciliation for independent agencies, three ways (bank, general ledger, agency management system), and ties carrier statements to commission revenue, for your review and sign-off. Florida Statute 626.561 (checked 2026-10-19) treats these premiums as trust funds.
What is included
- Monthly three-way trust reconciliation schedule with aged reconciling items
- Carrier commission statements tied to the agency system and to revenue
- Producer split and chargeback report by month
- Contingent commission accrual schedule by carrier, with the true-up
- Commission transfer list for the principal to approve
The process
- 1.
Agree the accounts and the rule
List each premium trust account, its bank, the carriers behind it and the state rule your compliance contact follows.
- 2.
Collect statements and reports
Bank statements, the agency system's trust report and each carrier's commission statement, sent after month-end cut-off.
- 3.
Reconcile the three legs
Bank to ledger, ledger to the agency system's amount owed by bucket, with every reconciling item listed and aged.
- 4.
Tie carrier statements to revenue
Each statement matched to policies in the agency system, then to commission revenue in QuickBooks Online.
- 5.
Post splits, chargebacks and accruals
Producer shares, chargebacks and the contingent commission accrual by carrier, with the true-up shown.
- 6.
Principal reviews and signs off
You review the one-page schedule and the transfer list, sign, and make any transfers yourself.
Software
QuickBooks Online, Applied Epic, AMS360, HawkSoft, Sagitta
Pricing
Quoted per engagement, based on the carriers, producers, trust accounts and agency system involved.
Finbryn is a brand of Northlane Solutions Inc., a Delaware corporation.
Reviewed October 2026