InsightTrack Bookkeeping gives insurance agents full-service monthly bookkeeping in QuickBooks Online — transaction coding, bank reconciliations, AR/AP, and monthly financial statements — on flat-rate packages starting at $300 per month. One bookkeeper on your file every month. See package pricing or book a free consultation.
Who This Is For
An insurance agency's revenue arrives as commission statements — direct deposits from each carrier, each with its own format, timing, and adjustments. New business, renewals, chargebacks on cancellations, and year-end contingency bonuses all hit the same account. If the agency is agency-billed on any lines, client premiums flow through a trust account that must never mix with operating funds. Producers may be W-2, 1099, or a mix, paid on splits that depend on which of those statements the policy appeared on.
InsightTrack sets up agency books that record commission revenue by carrier and by line, reconcile each carrier statement to the deposit, track chargebacks and bonuses separately, and keep premium trust as the fiduciary liability it is. Producer compensation is tied to the revenue it came from, and the operating P&L shows revenue per producer and what's left after E&O, licensing, and the management system.
Designed for independent P&C agencies, life and health agents, benefits brokers, and captive agents who run their office as a business, across Arkansas and remotely nationwide.
What Makes Bookkeeping for Insurance Agents Different
Commission statements by carrier
Every carrier deposit is reconciled to its statement, with new business, renewals, and adjustments recorded separately. Revenue by carrier and by line is a report, not a guess.
Chargebacks and contingencies
Cancellation chargebacks reduce revenue in the month they hit; contingency and profit-sharing bonuses are recorded when received and tracked apart from base commission so year-over-year comparisons are honest.
Premium trust accounts
For agency-billed business, client premiums are fiduciary funds. We keep the trust account reconciled to what is owed to carriers and never let it blend into operating cash or revenue.
Producer compensation
W-2 producers on salary plus commission, 1099 producers on splits, and owner draws are each recorded correctly, with producer pay tied to the commission revenue that generated it.
How We Set Up Your Books
Agency books use a chart of accounts with commission revenue by line (personal lines, commercial, life/health, benefits) and by carrier, producer compensation as cost of revenue, and overhead below for E&O, licensing and CE, the agency management system, marketing, office, and owner pay. Premium trust and premiums payable to carriers sit on the balance sheet.
- Carrier statement reconciliation — each commission deposit matched to its statement, adjustments recorded
- Revenue by carrier and line of business — classes so each line shows its own contribution
- Premium trust tracked as a liability — trust bank account reconciled to premiums payable monthly
- Management system reconciled — HawkSoft, EZLynx, AMS360, or Applied Epic commission data tied to the books
- Producer pay and 1099s — payroll reconciled monthly, 1099 producers tracked with W-9s on file
The Numbers We Track for Insurance Agents
Every client gets a monthly P&L, balance sheet, and cash flow statement. For insurance agents we also report the operating numbers that drive decisions, and can build them into a dashboard that updates as the books close.
-
Commission revenue by carrier and line
Where the money comes from, and how concentrated the agency is in any one carrier.
-
New business vs. renewal revenue
The split that shows whether growth is coming from selling or from retention — and how much of the book renews each month.
-
Chargeback rate
Chargebacks as a percent of new-business commission. Rising numbers usually point to a producer or a product problem.
-
Revenue per producer
Commission generated per producer against what they cost, so compensation plans are based on numbers instead of impressions.
Serving Insurance Agents in Arkansas and Nationwide
InsightTrack is based in Conway, Arkansas, and works with insurance agents in Little Rock, Conway, Maumelle, and across Central Arkansas, plus Fayetteville, Rogers, Bentonville, and Springdale in Northwest Arkansas.
The work is done in QuickBooks Online with documents shared through a secure portal, so location doesn't limit who we can help. We also serve insurance agents in Texas and nationwide. See all locations.
Frequently Asked Questions
Can you reconcile commission statements from multiple carriers?
Yes. Every carrier deposit is matched to its commission statement, with new business, renewals, chargebacks, and bonuses recorded separately, so revenue by carrier and by line is accurate every month.
Do you handle premium trust accounts?
Yes. For agency-billed business, the trust account is tracked as fiduciary funds with a matching liability for premiums owed to carriers, reconciled monthly and kept separate from operating cash and revenue.
Do you work with HawkSoft, EZLynx, or Applied?
Yes. We reconcile the commission and premium data from your agency management system to the books and the bank each month.
What does bookkeeping for an insurance agency cost?
Flat-rate packages start at $300 per month, which covers many one- or two-person agencies. Agencies with multiple carriers, producers on payroll, and a trust account would usually run $500 to $1,200 per month depending on volume.
Do you serve insurance agents in Arkansas?
Yes. InsightTrack is based in Conway and works with independent agencies in Little Rock, Conway, Northwest Arkansas, and statewide, plus remotely nationwide.
Get In Touch
Bring your current setup — QuickBooks file, spreadsheet, or shoebox — and we'll tell you what the monthly close would cost and what a cleanup would involve. Call (501) 697-1919 or email marcus@insighttrackbookkeeping.com.