Bordereaux Accounting for MGA and Delegated Authority
Bordereaux accounting is where premium accounting becomes exposed. Delegated authority programs require MGAs and wholesalers to report detailed financial activity to carriers. When bordereaux are built from spreadsheets or manual exports, discrepancies surface quickly and confidence erodes. Premium Accounting provides insurance-specific bordereaux accounting designed for MGAs and wholesalers managing delegated authority and program business.
Why Bordereaux Accounting Is So Difficult
Bordereaux reporting is not just data export.
Accounting teams must reconcile:
- Policy-level premium activity
- Endorsements, cancellations, and adjustments
- Commissions, fees, and taxes
- Payments received and balances outstanding
- Settlement timing with carriers
When these elements live across systems and spreadsheets, bordereaux become error-prone and time-consuming to produce.
How Premium Accounting Supports Bordereaux Workflows
Premium Accounting treats bordereaux as an output of accurate premium accounting, not a separate process.
The workflow includes:
- Centralized tracking of premium transactions
- Alignment of invoices, payments, and adjustments
- Clear separation of carrier, MGA, and producer amounts
- Consistent calculation of commissions and fees
- Audit-ready transaction history
This ensures bordereaux are generated from trustworthy financial data.
Designed for Delegated Authority and Program Business
Premium Accounting supports the realities of delegated authority programs.
This includes:
- Multi-carrier and multi-program structures
- Line of business and carrier groupings
- Tracking of premium by program and reporting period
- Clear settlement visibility with carriers
Accounting teams can generate bordereaux with confidence rather than reconstruction.
Reduces Spreadsheet Dependency in Bordereaux Reporting
Spreadsheets are often used to “fix” bordereaux issues.
Premium Accounting eliminates this by:
- Maintaining a premium subledger with transaction-level detail
- Applying consistent rules for allocation and adjustments
- Preserving traceability from policy to settlement
- Supporting repeatable, defensible reporting
This reduces back-and-forth with carriers and audit risk.
Keeps Bordereaux Aligned With Accounting and Settlement
Bordereaux data in Premium Accounting is not isolated.
It stays aligned with:
- Accounts receivable and payable
- Netting and settlement workflows
- Transaction history and audit trail
- Synchronization to the accounting ledger
This ensures carrier reporting matches financial outcomes at close. To see how bordereaux accounting fits into broader workflows, review how Premium Accounting integrates with insurance management systems and accounting ledgers.
Built for Accounting Teams, Not Just Reporting
Premium Accounting gives accounting teams:
- Confidence in reported numbers
- Reduced manual effort each reporting period
- Clear explanations for variances
- Stronger carrier relationships
Bordereaux become a byproduct of good accounting, not a monthly fire drill.
Who This Feature Is For
Bordereaux accounting is ideal for organizations that:
- Operate delegated authority or program business
- Produce regular carrier bordereaux
- Rely on spreadsheets to reconcile program data
- Need audit-ready reporting
It is most commonly used by MGAs and wholesalers evaluating insurance premium accounting software to modernize delegated authority operations.
FAQs
Modern Premium Accounting for P&C MGAs and Wholesalers
Accurate allocations, full traceability, and audit-ready reporting - without agency accounting workarounds.
How This Service Connects to the Core Platform
This service operates within the connected Selectsys insurance infrastructure. Operational execution is fully aligned with the technology backbone.
- RQB: Rating and bind infrastructure for commercial and specialty lines.
- Expert Insured: Policy lifecycle system managing issuance, endorsements, and renewals.
- Premium Accounting: Insurance native accounting for agency bill, direct bill, trust, and reconciliation.
- CoverPay : Premium collection by Card and ACH for MGAs, wholesalers and carriers, with payment tracking and reconciliation support.
- Insurance BPO: Embedded teams executing submissions, underwriting support, servicing, and compliance.
Operational services are most effective when integrated directly with the core platform capabilities.
We are a part of
