Frequently asked questions.
What services are included in the monthly plan?
At Agency Accounting Partners, we want to make sure you are taken care of. As our client, you will receive the services listed below each month billed at a flat monthly rate.
Maintain accurate and up-to-date financial records, including general ledger entries, journal entries, and chart of accounts.
Record and categorize all financial transactions related to the insurance agency such as: vendor payables, company payables, accounts receivable/deposit posting, direct bill processing, and payroll posting.
Reconcile bank statements with financial records to ensure accuracy and identify any discrepancies.
Commission Management: Tracking and recording commission income while allocating to agents based on commission schedules.
Will I receive monthly reports?
Yes! Each moth you will receive aged customer receivables, income statement, balance sheet, bank reconciliations, production reports, producer commissions, and any other reports discussed and agreed on during initial setup process.
What software do use?
We are knowledgeable mainly in Vertafore AMS360. Other Vertafore products and QuickBooks are also an option.
How much are your services?
We take pride in our competitive rates! The first two months will be billed at an hourly rate to get a picture of the amount spent each month. On the 3rd month, it will be an average monthly flat rate. Call me today to discuss, you are probably overpaying!
What does the Initial setup process look like?
During the initial setup we will evaluate company reports to determine the status of your financials. We will spend a day at your agency meeting with your staff and reviewing the daily operations. We will also setup any commission download processes with your carriers if possible to improve efficiencies.
Do you offer additional services not included in the monthly plan?
Yes! We offer a variety of additional services from customer billing, surplus lines reporting, payroll processing, special research projects, due diligence/pro forma reporting. If it’s not listed, call us and let’s discuss.