Insurance Agency Accounting & Bookkeeping

IAAB records your direct bill commission on a cash basis using company commission statements as the source document We process commission statement downloads, imports, and manually record commission statements All commission received is accounted and documented

Reconcile & Pay Agency Bill Premiums

IAAB monitors your open agency bill premium payables for customer payments and pays the companies/brokers within a few days of receipt We remit premiums electronically whenever possible and notify the companies/brokers with payment application details We work with Agency staff and insurance company/wholesaler staff to ensure records agree

Reconcile General Ledger Accounts

IAAB has accountants on staff skilled in reconciling all accounts reported on your financial statements, providing agency principals with the details needed to successfully manage Agency's bank accounts are reconciled several times throughout the month Customer accounts receivable and company premium payables are balanced

Prepare & Interpret Financial Statements

IAAB has accountants on staff who prepare & review your agency's financial reports each month We provide you with a Balance Sheet, Income Statement, and reports of Open Receivables & Open Payables We also offer ad hoc reporting to answer your specific questions All agencies have the opportunity to review their reports with a staff accountant

IAAB pays your approved vendor bills via paper check for you to authorize, or use your bank's billpay system, or pay on the vendor website

Reconcile Customer Accounts Receivable

IAAB records your customer payments and regularly provides you with reports of unpaid balances We assist agency staff with invoicing

IAAB is an Accountants partner with ADP payroll We offer payroll processing to client agencies as an add on service to our standard services Agencies may use the payroll provider of their choice and retain the reporting responsibilities IAAB records all payroll transactions in the agency’s management system