QuickBooksOnline, bank and trust portals, carrier portals,premium finance portals, payroll platform

Agency Accountant – Job Description & Experience Template

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Agency bill

Record client invoices, receipts, and premium payable to carriers in the ASM for everyagency-billed transaction (new business, endorsements, renewals, audits,cancellations).

Post client payments daily; apply to the correct invoice and policy; chase unappliedcash to zero.

Pay carrier statements (net of commission) on or before due dates; reconcile eachcarrier statement line-by-line to the ASM before paying.

Process return premiums: confirm carrier credit received, refund the insured orfinance company promptly, and document it.

Track and resolve carrier statement discrepancies (missing items, wrong commissionrates, wrong effective dates) with the carrier and the servicing CSR.

Direct bill

Download and import direct-bill commission statements (manual entry ordownload/reconciliation tool) for every carrier, every month.

Reconcile expected vs. received commission by policy; flag missing commissions,chargebacks, and rate errors; work them with carriers until collected.

Maintain a commission receivable schedule by carrier with aging.

Premium trust (fiduciary) accounting

Keep premium trust funds segregated from operating funds as required by state law;never let the trust account go negative or fund operating expenses.

Sweep only earned commission from trust to operating, supported by a documentedcalculation.

Prepare a monthly fiduciary reconciliation proving trust cash + receivables frominsureds ≥ payables to carriers and return premiums owed.

Keep procedures current with the state Department of Insurance fiduciary rules foreach state the agency is licensed in.

Commissions and producer compensation

Run producer commission statements from the ASM; verify splits, new vs. renewalrates, and house accounts.

Handle commission chargebacks on cancellations and flat-cancels.

Deliver producer comp to payroll on schedule with a reviewable support file.

ASM data integrity

Agency Accountant – Job Description & Experience Template

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Monthly: ASM receivables and payables ties to QuickBooks control accounts;unapplied cash and suspense near zero; no open items over 90 days without adocumented reason.

Manage GL mapping, carrier/vendor setup, and month-end close in the ASM.

QuickBooks, invoicing, reconciliations, and premium finance

QuickBooks Online (general ledger)

Own the chart of accounts: clean structure separating trust vs. operating, agency-billvs. direct-bill commission, new vs. renewal revenue, and contingency/bonus income.

Record all operating activity: expenses, payroll journals, commissions, loans, ownerdraws/distributions, fixed assets, and prepaid/accrued items.

Manage bank feeds and rules; no uncategorized or "Ask My Accountant" items atmonth-end.

Attach source documents (receipts, statements, agreements) to transactions.

Maintain users, permissions, and closing-date password; lock prior periods after close.

Invoicing and accounts receivable

Issue invoices for agency-bill premiums, broker/service fees, policy fees, and auditpremiums, with fees disclosed and compliant with state rules.

Run weekly AR aging; follow up at 15/30/45 days; escalate to the producer and ownerbefore cancellation risk.

Coordinate notices of intent to cancel with CSRs so no policy cancels for non-paymentthe agency already collected.

Manage payment channels (ACH, card, check, lockbox) and reconcile processordeposits and fees.

Accounts payable

Enter, approve, and pay vendor bills on terms; keep W-9s on file for every vendor.

Maintain a payment calendar for carriers, finance companies, rent, software, loans, andtaxes.

Bank and account reconciliations (monthly, within 10 business days)

Reconcile every account: operating, premium trust, payroll, savings/money market,credit cards, merchant/processor, loans, and lines of credit.

Agency Accountant – Job Description & Experience Template

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Clear or explain outstanding items older than 60 days; resolve stale checks andescheat unclaimed property per state rules.

Three-way tie for trust: bank statement = QuickBooks = ASM.

Reconcile balance sheet accounts to schedules: prepaids, accruals, fixed assets, loans,commission receivable, and deferred items.

Premium finance agreements

Prepare or verify premium finance agreements (PFAs): premium, down payment,amount financed, APR, and signatures.

Record the down payment received and the funded amount from the financecompany; tie funding to the carrier payable.

Track finance company remittances and any producer/agency compensation paid bythe finance company.

Manage cancellations: return premium routed to the finance company first, unearnedbalances reconciled, and refunds of any remaining balance to the insured.

Keep an open-PFA log reconciled monthly to the finance company's statement.

Month-end close, reporting, and audit readiness

Books close by business day 10 each month, with a signed-off close package the ownercould hand to an auditor unchanged.

Cadence

Deliverable

Daily

Cash receipts posted in ASM; bank activityreviewed; trust balance checked

Weekly

AR aging and collections update; AP run; cashposition report to owner

Monthly (BD 10)

All reconciliations; ASM-to-QBO tie-out; fiduciaryreconciliation; P&L, balance sheet, cash flow;commission by carrier and producer; close package

Quarterly

Estimated tax support to CPA; carrier productionreview; budget vs. actual; loan covenant check

Agency Accountant – Job Description & Experience Template

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Audit-ready standard

Every balance sheet account has a reconciliation with preparer, date, and supportingschedule.

Every journal entry has a memo and attached support; recurring entries aredocumented.

Prior periods are locked; any change after close is logged and approved by the owner.

A digital close binder (one folder per month) holds statements, reconciliations, andreports, retained per state record-retention rules (commonly 5-7 years).

Internal controls

Segregation of duties where headcount allows; where it doesn't, owner reviews bankand trust statements monthly (read-only access).

Dual approval for payments over a set threshold [$_____] and for any new payee orbank-detail change.

Positive pay or ACH debit blocks on trust and operating accounts.

Written procedure manual for every recurring task, so a backup can run the books fortwo weeks.

Additional functions to include

These are the areas agency owners most often leave out of the job description and laterfind unowned.

Cadence

Deliverable

Annually

Year-end close; 1099s and W-2 support; CPA taxpackage; budget; insurance/licensing renewals ofthe agency itself

Function

What the Accountant owns

Contingency / profit-sharing and bonusincome

Track carrier contingency agreements,estimate accruals, reconcile payments tocarrier calculations

Carrier and state audits

Prepare for carrier trust-account and DOIfiduciary audits; respond to requests within 5business days

Agency Accountant – Job Description & Experience Template

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Function

What the Accountant owns

Surplus lines and premium taxes

Calculate, file, and remit surplus lines taxesand stamping fees by state deadline; reconcileto ASM

Payroll

Process or review payroll; reconcile payrollliabilities; verify producer comp and bonusesflow correctly

Business taxes

Coordinate with CPA on income tax, estimates,personal property tax, and local businesslicenses

1099s and W-9s

Collect W-9s at vendor setup; file 1099-NEC/MISC by January 31

Cash flow forecasting

Rolling 13-week cash forecast coveringseasonality, renewal cycles, carrier due dates,and loan payments

Budgeting and KPIs

Annual budget, monthly budget vs. actual, andagency metrics (organic growth, EBITDAmargin, revenue per employee, retention)

Debt and lender compliance

Loan and line-of-credit payments, covenantreporting, and acquisition/earnout schedules

Book valuation readiness

Revenue by carrier, line, and producer keptclean for perpetuation planning, sale, oracquisition diligence

Agency E&O and business insurance

Track renewals and premium payments forE&O, cyber, BOP, crime/fidelity bond

Fraud prevention

Watch for fictitious policies, lapping, divertedpremiums, and unusual refunds; reportconcerns directly to the owner

Data security

Protect client financial data (bank info, SSNs)per state insurance security laws and theFTC Safeguards Rule

Carrier contracts and licensing fees

Track appointment fees, license renewals, andcarrier agreement terms that affectremittance timing

Agency Accountant – Job Description & Experience Template

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Required experience and qualifications

Required

5+ years of full-cycle accounting (AP, AR, GL, reconciliations, month-end close), with atleast 3 years as the primary bookkeeper or accountant for a small business.

2+ years of insurance agency accounting, including agency bill, direct bill, and premiumtrust accounts.

Hands-on experience in an agency management system (e.g., Applied Epic, AMS360,HawkSoft, EZLynx, QQCatalyst, or the agency's ASM), including carrier statementreconciliation and commission downloads.

Advanced QuickBooks Online: chart of accounts design, bank rules, reconciliations,journal entries, reporting, and period locking.

Proven record of reconciling multiple bank and trust accounts monthly with zerounexplained differences.

Working knowledge of premium finance agreements and return-premium handling.

Strong Excel: pivots, lookups, and reconciliation workbooks.

Clean background and credit check; eligible for a fidelity bond.

Preferred

Bachelor's degree in accounting or finance; CPA, CMA, or CB (Certified Bookkeeper) aplus.

QuickBooks ProAdvisor certification.

Experience with state DOI fiduciary audits or carrier trust audits.

Surplus lines tax filing experience.

Experience supporting an agency sale, acquisition, or valuation.

Property & casualty license, or willingness to learn P&C terminology and policylifecycle.

Function

What the Accountant owns

Owner and entity reporting

Owner distributions, shareholder/partnerequity, and intercompany accounts if multipleentities

Technology and automation

Bank feeds, ASM downloads, payment portals,and reporting automation to cut manual entry

Agency Accountant – Job Description & Experience Template

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Traits that matter

Takes ownership without prompting; reports problems early with a fix in hand.

High integrity and discretion with client and owner financial data.

Explains numbers in plain language to producers and the owner.

Organized enough to be audited on any day, not just at year-end.