Does Premium Accounting replace Xero?

No. Premium Accounting integrates with Xero and synchronizes insurance-ready financial outcomes to it.

Can Xero still be used for reporting and close?

Yes. Xero remains the system of record for reporting, close, and financial statements.

Does Premium Accounting support complex insurance premium scenarios?

Yes. Premium Accounting supports agency bill, direct bill, installments, premium finance, and policy adjustments.

Can organizations move to a different accounting ledger later?

Yes. Premium Accounting supports multiple accounting ledgers, allowing organizations to change or upgrade their general ledger over time.

Xero Integration for Insurance Premium Accounting

Some MGAs and wholesalers use Xero as their general ledger, particularly organizations with modern finance teams or international operations. Xero is clean, flexible, and efficient for general accounting. What it is not designed to handle is the operational complexity of insurance premium workflows. Premium Accounting integrates with Xero to allow organizations to keep Xero as their general ledger while managing insurance-specific premium accounting without spreadsheets or manual reconciliation.

How Premium Accounting Integrates With Xero

Premium Accounting functions as a dedicated premium subledger alongside Xero.

The integration model works as follows:

Policy and transaction data is ingested from your management system and rating tools
Insurance-specific premium accounting logic is applied in Premium Accounting
Invoices, payments, allocations, and balances are tracked in the premium subledger
Clean, structured results are synchronized to Xero for financial reporting and close

Xero remains the system of record for the general ledger. To understand why this architecture works, see how organizations replace insurance accounting without changing their management system.

Why Xero Alone Is Not Enough for Insurance Premium

Xero is built for general financial workflows.

It works well for:

Standard invoicing and payments
Financial reporting and close
Multi-currency and international operations

Insurance premium accounting introduces additional complexity:

Agency bill and direct bill business
Partial and out-of-order payments
Installments, endorsements, and cancellations
Premium finance activity
Commissions, fees, and taxes tied to premium
Carrier and producer settlement

Without an insurance-specific accounting layer, these workflows are managed outside of Xero using spreadsheets and manual adjustments.

What Gets Synchronized to Xero

Premium Accounting synchronizes insurance-ready financial outcomes to Xero in a controlled and auditable manner.

This includes:

Receivable and payable results
Payment application outcomes
Adjustments from endorsements and cancellations
Netting and settlement activity
Posting structures aligned to your chart of accounts

This approach reduces manual journal entries and improves confidence in Xero balances.

Built for Modern MGA and Wholesale Finance Teams

Xero is often chosen by organizations that value clean workflows and transparency.

Premium Accounting complements this by:

Eliminating spreadsheet-driven premium reconciliation
Providing clear allocation logic for complex premium scenarios
Maintaining transaction-level traceability
Supporting audit, close, and carrier reporting

This allows finance teams to rely on Xero while handling insurance complexity where it belongs.

Supports Multiple Accounting Ledgers as Organizations Grow

While Xero is a strong choice for many organizations, Premium Accounting is not limited to a single ledger.

It is designed to synchronize with multiple accounting ledgers, including:

QuickBooks Online
NetSuite
Workday

This ensures organizations can evolve their finance stack without rebuilding premium accounting workflows. For a broader view of supported systems, see how Premium Accounting integrates with insurance management systems and accounting ledgers.