Can installment schedules change after endorsements?

Yes. Installment schedules adjust automatically when premium changes.

Does Premium Accounting support down payments?

Yes. Down payments are supported with configurable rules.

Can partial payments be applied to installment invoices?

Yes. Partial payments are applied using insurance-specific allocation logic.

Are installment balances synchronized to the accounting ledger?

Yes. Insurance-ready installment outcomes are synchronized to the accounting ledger.

Premium Finance Handling for Insurance Premium Accounting

Premium finance is where premium accounting becomes fragile. When policies are financed, payments do not come directly from the insured, timing differs from billing schedules, and balances must still reconcile correctly across premium, commissions, and settlements. Premium Accounting provides insurance-specific premium finance handling designed for MGAs and wholesalers who need clarity without spreadsheet workarounds.

Why Premium Finance Breaks Generic Accounting

Generic accounting systems assume:

Payments come directly from the customer
Billing and payment schedules align
Minimal third-party involvement

Premium finance breaks these assumptions.

Accounting teams must handle:

Third-party finance company payments
Differences between financed amounts and billed premium
Timing gaps between funding and policy changes
Adjustments from endorsements and cancellations
Clear tracking of what has been financed versus collected

Without insurance-aware logic, finance activity is tracked manually outside the system.

How Premium Accounting Handles Premium Finance

Premium Accounting treats premium finance as a first-class insurance workflow.

The process includes:

Identification of financed policies and amounts
Tracking of payments received from finance companies
Alignment of financed payments with invoices and receivables
Visibility into remaining balances and adjustments
Integration with payment application and settlement workflows

This ensures financed premium remains aligned with accounting outcomes.

Works With Installments and Down Payments

Premium finance often intersects with installment billing.

Premium Accounting supports:

Financed down payments
Interaction between installment schedules and financed amounts
Accurate tracking of what is financed versus what remains payable
Clear reconciliation of mixed payment sources

This avoids manual tracking of financed versus non-financed balances.

Handles Endorsements, Cancellations, and Return Premium

Financed policies change over time.

Premium Accounting supports:

Adjustments to financed amounts after endorsements
Recalculation of balances when policies are cancelled
Proper handling of return premium
Traceability from original financing through final settlement

All changes remain auditable and tied to policy history.

Keeps Premium Finance Aligned With Accounting

Premium finance activity in Premium Accounting is not isolated.

Finance-related activity flows into:

Accounts receivable
Payment application logic
Netting and settlement workflows
Transaction history and audit trail
Synchronization to the accounting ledger

This ensures premium finance does not introduce reconciliation surprises at close. To see how premium finance fits into broader workflows, review how Premium Accounting integrates with insurance management systems and accounting ledgers.