Bookkeeping & Accounting for Insurance Agencies
Accurate, compliant, and streamlined financials for independent agents, brokers, and insurance firms.
Accurate Books for a Stronger Insurance Business
Policies, renewals, and producer commissions make insurance a demanding career. However, bookkeeping is usually the area that causes the biggest headaches.
Insurance agencies face unique challenges that go well beyond sending invoices. Agents must track commissions (sometimes from multiple carriers), manage trust accounts and premium collections, handle payroll for their staff, remain compliant with state and industry regulations, and perform numerous other tasks.
Remote Quality Bookkeeping (RQB) focuses on bookkeeping and accounting designed specifically for insurance agencies. For more than 20 years we’ve worked with small businesses across the country, so we know the financial challenges agencies face every day. Our team brings the right mix of expertise, tools, and technology to keep your records accurate and compliant, giving you the freedom to focus on clients and building your book of business.
The Risks of Poor Insurance Agency Bookkeeping
Recording premiums and expenses is only a small part of insurance accounting. Agencies also have to manage trust accounts correctly and make sure producer commissions are calculated and paid the right way.
Unfortunately, even minor errors can quickly escalate into more significant problems. A missed reconciliation, delayed payment, or inaccurate report can impact profitability and damage your reputation with clients, carriers, and regulators. Over time, these mistakes can erode client trust, put your license at risk, and stall your agency’s growth.
Regulatory Non-Compliance
Agencies must maintain accurate records to comply with state DOI requirements. Poor bookkeeping can put your license at risk.
Mishandled Trust Accounts
Funds collected on behalf of carriers must be tracked separately. Mixing funds creates compliance risks and potential legal issues.
Commission Confusion
When commissions from multiple carriers aren’t reconciled, it’s impossible to know which producers are paid accurately or if your agency is profitable.
Cash Flow Crunches
When carrier payments are late or receivables aren’t tracked correctly, it becomes harder to meet payroll and cover day-to-day expenses.
Inaccurate Reporting
Without reliable financial statements, you can’t make sound business decisions or demonstrate financial stability to regulators and partners.
Try Us Out For Free
Start your free trial, and see why businesses trust Remote Quality Bookkeeping with their books. Get started today with nationally certified bookkeeping specialists and advisors.
Featured Services for Insurance Agencies
Commission Tracking & Reconciliation
We double-check carrier statements against your records, so producer checks go out right and you can see exactly what the agency earned.
Trust Account Management
Keep agency and carrier funds properly separated and compliant with state regulations. With our help, you can maintain accurate records and reports for audits.
Financial Reporting & Compliance
Get GAAP-compliant statements, custom dashboards, and the reports you need for regulators, carriers, and your management team to ensure transparency and productive decision making.
Accounts Payable & Receivable
Agencies deal with fast-moving cash flow. We ensure that payments, receivables, and expenses are accurately tracked, allowing you to view your financial status at a glance.
Why Choose RQB for Insurance Agency Bookkeeping
Many bookkeeping providers lack the industry knowledge necessary to handle the unique financial requirements of insurance agencies. When agencies attempt to manage their own books, it often leads to compliance issues, commission discrepancies, or errors in trust account management.
Remote Quality Bookkeeping Offers:
Specialized Insurance Expertise
We understand the intricacies of carrier commissions, trust accounting, and producer compensation.
A Complete Financial Team for Less
For one flat monthly fee, you get access to CPAs, CFOs, ProAdvisors, payroll specialists, and compliance-savvy bookkeepers.
Custom Reporting for Agencies
Whether you need detailed trust account records, producer payout statements, or high-level P&L reports, we deliver the right data in the right format.
Secure Remote Access
Access your books 24/7 through our secure platform. Upload receipts, review commission reports, and communicate with your bookkeeping team at any time.
Proven Track Record
We’ve supported service-based businesses across the U.S. for over 20 years. Insurance agencies trust us to keep them compliant, profitable, and audit-ready.
Pricing
All prices below are subject to review of books and business needs
Starting at
$229/month*
Starter
Monthly expenses below $15k 25-50 Transactions
Starting at
$299/month*
Venture
Monthly expenses from $15k to $30k 50-75 Transactions
Starting at
$389/month*
MOST POPULAR
Monthly expenses from $30k to $80k 75-150 Transactions
Ask about our starting business discount
Custom*
Contact for Quote
Monthly expenses over $80k
Custom-tailored services created to scale with your business as it grows.
Starting at
$125/month*
Payroll
All Filings Included
No Surprise Fees like Direct Deposit, W2, 940, etc.
User friendly interface for Employees AND Employers
Final Prices Subject To Quote
Every plan comes with a dedicated bookkeeping team to handle your monthly books. Plans include bank & credit card downloads, reconciliation, and monthly reporting. If your business requires custom services, you may be custom priced.
Insurance Bookkeeping FAQs
What makes insurance agency bookkeeping different?
Unlike most businesses, agencies must manage both operating accounts and trust accounts, reconcile carrier commissions, and ensure strict compliance with state regulations.
Can RQB handle producer commission payments?
Yes. We reconcile carrier statements, calculate producer commissions, and ensure timely, accurate payouts.
Do you help agencies prepare for audits?
Absolutely. We maintain accurate, audit-ready records year-round so you’ll always be prepared for state DOI or carrier audits.
Can RQB manage payroll for my agency?
Yes. We handle payroll for both salaried staff and commission-based producers, ensuring proper classification and reporting.
Do you serve insurance agencies nationwide?
Yes. Our remote services allow us to partner with agencies across all 50 states.