MGATrust Accounting Software

Premium Accounting helps Managing General Agents track premium funds, carrier obligations, commissions, trust balances, settlements, refunds, and reconciliation through an insurance-native financial platform. Maintain complete visibility into premium received, amounts owed to carriers, producer commissions, trust activity, and policy-level accounting while continuing to use QuickBooks, Xero, Sage, Workday, or another supported accounting system as your general ledger.

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See MGA Trust Accounting in Action

Watch how Premium Accounting helps MGAs manage premium trust accounting, carrier obligations, commissions, reconciliation, settlements, and financial controls from one insurance-native platform.

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What Is MGA Trust Accounting?

Explain how MGAs collect premium on behalf of insurance carriers and why trust accounting is necessary to distinguish premium funds, commissions, fees, refunds, carrier obligations, and operating revenue.

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Why Trust Accounting Is Different from General Accounting

Explain why general ledger systems alone are not designed to track insurance trust activity.

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Track Premium Received

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Explain how Premium Accounting preserves the relationship between payments and trust balances.

Track Carrier Payables

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Manage Producer and Agency Commissions

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Explain how commissions affect trust balances. Learn more about Commission Accounting Software.

Track Refunds and Return Premium

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Trust Accounting Across Multiple Programs

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Explain how Premium Accounting separates trust activity by program.

Trust Reconciliation

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Connect Trust Accounting with Billing

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Connect Trust Accounting with Payment Processing

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Connect Trust Accounting with Carrier Settlements

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Financial Controls

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Reporting

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General Ledger Integration

Explain how Premium Accounting serves as the insurance trust accounting subledger while QuickBooks, Xero, Sage, Workday, and other accounting systems remain the general ledger.

Support Growing MGAs

Discuss how Premium Accounting supports increasing premium volume, additional carriers, more producers, more programs, more policies, and more settlements without increasing manual accounting work.

Generic Accounting vs. MGA Trust Accounting Software

Generic AccountingPremium Accounting
Tracks account balancesTracks complete policy-level trust activity
Limited premium visibilityPremium collections connected to trust balances
Carrier balances maintained manuallyContinuous carrier obligation tracking
Commission accounting separateCommission activity connected to trust accounting
Refunds managed independentlyRefunds remain connected to premium history
Manual trust reconciliationContinuous trust reconciliation
Limited policy visibilityComplete policy-level accounting
Basic audit trailComplete transaction history and audit visibility
Minimal financial controlsApproval workflows, reconciliation status, accounting controls
Settlement calculations built manuallySettlement-ready trust accounting throughout the accounting cycle

Premium Accounting extends traditional accounting with insurance-specific trust accounting. Every premium collection, commission, carrier obligation, refund, settlement, and reconciliation activity remains connected throughout the policy lifecycle, providing complete financial transparency while supporting existing accounting systems.

MGA Trust Accounting Software at a Glance

Premium Accounting helps Managing General Agents manage premium trust balances through one insurance-native accounting platform. The system connects premium collections, carrier obligations, commissions, refunds, settlements, reconciliation, financial controls, and reporting while maintaining complete policy-level financial history. Organizations improve trust accounting accuracy, strengthen financial governance, reduce reconciliation effort, and simplify carrier settlements without replacing their existing general ledger.

Related MGA Solutions

Modernize Trust Accounting for Your MGA

Explain how Premium Accounting centralizes premium trust accounting, carrier balances, commissions, settlements, reconciliation, reporting, and financial controls.

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Frequently Asked Questions About MGA Trust Accounting Software

MGA trust accounting is the process of recording, managing, and reconciling premium funds collected on behalf of insurance carriers. It tracks premium receipts, carrier payables, commissions, taxes, fees, refunds, settlements, and trust balances while maintaining accurate policy-level accounting records.

Trust accounting software provides policy-level insurance accounting that general ledger systems are not designed to manage. It helps track premium funds, carrier obligations, commissions, trust balances, settlements, and reconciliation across policies, programs, and carriers.

Yes. Premium Accounting can calculate and track carrier payables using premium collections, commissions, taxes, fees, refunds, endorsements, return premium, and settlement activity to maintain accurate carrier balances.

Yes. Premium Accounting can track MGA, producer, and agency commissions, including commission calculations, adjustments, return commissions, payable status, settlements, and reconciliation.

Yes. Premium Accounting helps reconcile trust balances by matching premium receipts, invoices, payments, carrier payables, commissions, refunds, settlements, and general ledger activity.

Yes. Premium Accounting can track return premium, customer refunds, refund approvals, refund status, carrier adjustments, commission reversals, and reconciliation activity.

Yes. Premium Accounting supports trust accounting across multiple MGA entities, programs, carriers, products, lines of business, retail agencies, producers, policies, and accounting periods.

No. Premium Accounting operates as the insurance accounting subledger while QuickBooks, Xero, Sage, Workday, or another supported accounting system remains the general ledger.

Yes. Premium Accounting connects billing, payments, trust accounting, carrier payables, commissions, refunds, and settlements to provide complete policy-level financial visibility and reconciliation.

Premium Accounting improves financial controls through detailed audit history, approval workflows, reconciliation tools, policy-level reporting, trust balance monitoring, carrier settlement tracking, and comprehensive financial reporting.