Billing & Commission Accounting: The Financial Nerve Center of Every MGA

Where Most MGA Accounting Still Breaks

Every MGA or wholesaler knows the end-of-month ritual: Excel sheets, mismatched invoices, manual remittance statements, and “one number off” headaches.
The cause isn’t people, it’s fragmentation. Underwriting, policy admin, and finance all run on disconnected data.

Expert Insured unifies that flow. It links policy lifecycle events, quoting, issuance, endorsements, cancellations, reinstatements, renewals, directly to the money movement that follows.
Billing and commission entries post automatically; bordereaux reconcile instantly. Finance no longer chases operations for numbers.

If Discover how integrated billing and commission accounting power every MGA’s financial operations, ensuring accuracy, transparency, and real-time visibility across policies and partners. Expert Insured keeps form chaos under control through smart logic: Bordereaux & Premium Processing is your carrier-facing ledger, Billing & Commission Accounting is your internal one, the control tower for every premium, commission, and remittance.

From Policy Events to Ledger Entries

Each policy event generates its financial record the moment it’s approved.

Because this happens in real time, finance never waits for month-end data pulls. The same dataset drives your Policy Lifecycle Management dashboards and your GL exports.

Agency Bill, Direct Bill, and Everything In Between

Expert Insured supports any billing model:

• Agency Bill: Produce client invoices, manage receipts, and remit net to carriers.
• Direct Bill: Carrier-issued billing reconciled automatically via feed or bordereaux.
• Hybrid/Installment: Split payments or fees with automated reminders.

Each invoice or payment carries contextual links, who issued it, under which program, and which policy triggered it.

Commission Rules Made Understandable

MGAs rarely have one commission schedule. You may have tiered rates, volume bonuses, sliding scales, or profit commissions.

Expert Insured lets you model all of it through configurable rules:

• Tiered or flat rates per carrier/program.
• Contingent or profit-share adjustments tied to earned premium.
• Override commissions for producers or sub-agents.
• Clawbacks and reversals with full audit trails.

When a transaction posts, commissions calculate instantly, and results flow into Bordereaux & Premium Processing for carrier remittance.

Reconciliation Without Spreadsheets

Every MGA accountant has a “Franken-sheet” used to match policy premiums against carrier reports. Expert Insured replaces that with reconciliation logic built directly into the ledger.

• Automated matching: Policy, endorsement, and payment records align line-for-line.
• Exception queue: Out-of-balance entries flagged with ownership and deadlines.
• Variance reports: Show premium differences by program or carrier.
• Audit stamps: Every cleared item retains a timestamp and user ID.

When paired with Cancellations & Reinstatements, the reconciliation engine keeps ledgers balanced even through reversals and re-billings.

Connecting Finance & Operations

Billing data shouldn’t live in isolation. Expert Insured connects your financial layer to every operational module:

• Underwriting: Pull rating data and producer info automatically.
• Policy Lifecycle: Create invoices the moment a policy binds.
• Renewals Automation: Auto-generate renewal invoices and commission statements.
• Compliance & Audit Readiness: Export full evidence packs for auditors.

Finance gains instant visibility into operational context, not just numbers, but why they exist.

Integration with External Accounting Systems

Expert Insured doesn’t replace your accounting suite; it makes it smarter.
APIs and export templates connect seamlessly to QuickBooks Online, Sage Intacct, NetSuite, and other GLs.

• Journal entries mapped by account and program.
• Batch exports by cycle or carrier.
• Auto-reconciliation imports from banking feeds.

It’s automation without losing financial control.

Dashboards That Tell the Real Story

Executives need more than aging reports. They need insight:

• Premiums billed vs. received
• Commission earned vs. paid
• Carrier remittance delays
• Average reconciliation time
• Program profitability by LOB

Because the system captures both financial and operational events, your dashboards reflect true performance, not disconnected metrics.

Audit Confidence and Compliance

Billing touches every audit question. Expert Insured stores every number with traceability:

• Every transaction shows its source policy.
• Every commission split has an approval record.
• Every adjustment carries a reason code.
• Every report is versioned for replay.

When auditors request evidence, you click “Export Evidence Pack.” That same export ties into Compliance & Audit Readiness for delegated-authority reporting.

The Business Impact: Cashflow Meets Clarity

By linking billing and commission data directly to lifecycle events, MGAs achieve:

• Faster carrier payments: no missing documentation.
• Cleaner reconciliation: one ledger, no re-keying.
• Better forecasting: real-time earned premium visibility.
• Reduced leakage: automated commissions and clawbacks.

It’s not just accounting efficiency; it’s revenue assurance.

Implementation Path

Most teams begin with one carrier or program. Expert Insured maps your chart of accounts, commission rules, and remittance schedule, then automates from there.

Within weeks, billing stops being a bottleneck and becomes a transparent, reliable workflow.

Request a Demo or Start a Pilot to see how your next reconciliation can run itself.

Frequently Asked Questions

Can Expert Insured handle both agency and direct bill?
Yes, and it can automate reconciliation between the two.

How are commission splits configured?
Through a flexible rule engine supporting tiered, contingent, and override commissions.

Does it integrate with accounting software?
Yes, QuickBooks, Sage, and NetSuite via CSV or API.

Can finance audit historical transactions?
Yes. Every line item retains its policy link and timestamp.

Does it support multi-currency or multi-entity?
Yes. Programs can be segmented by currency, entity, or carrier.

Explore connected financial workflows inside Expert Insured:

• Bordereaux & Premium Processing, automated carrier reporting and reconciliation.
• Cancellations & Reinstatements, ensure ledger accuracy when policies change mid-term.
• Policy Lifecycle Management, automate every step from bind to renewal.
• Compliance & Audit Readiness, generate evidence instantly for financial reviews.

See the full platform: Expert Insured →