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.
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.
Ready to modernize your agency accounting?
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.
Discuss:
- Premium Funds
- Fiduciary Responsibility
- Carrier Obligations
- Financial Transparency
- Policy-Level Accounting
- Audit Requirements
Learn more about Insurance Premium Accounting for MGAs.
Why Trust Accounting Is Different from General Accounting
Explain why general ledger systems alone are not designed to track insurance trust activity.
Cover:
- Policy-Level Accounting
- Premium Allocations
- Carrier Balances
- Commission Obligations
- Financial Events
- Insurance Subledger
Learn more about Insurance Accounting for MGAs and Insurance Premium Subledger.
Track Premium Received
Cover:
- Premium Received
- Deposits
- Installments
- ACH
- Credit Cards
- Outstanding Balances
- Payment Status
Explain how Premium Accounting preserves the relationship between payments and trust balances.
Track Carrier Payables
Discuss:
- Gross Premium
- Net Premium
- Carrier Balances
- Carrier Obligations
- Settlement Preparation
- Carrier Reconciliation
Learn more about Carrier Settlement Checklist.
Manage Producer and Agency Commissions
Cover:
- MGA Commissions
- Producer Commissions
- Agency Commissions
- Commission Adjustments
- Return Commissions
- Commission Payable
Explain how commissions affect trust balances. Learn more about Commission Accounting Software.
Track Refunds and Return Premium
Discuss:
- Return Premium
- Refund Approvals
- Refund Status
- Refund History
- Commission Reversals
- Carrier Adjustments
Trust Accounting Across Multiple Programs
Cover:
- Programs
- Carriers
- Agencies
- States
- Products
- Lines of Business
Explain how Premium Accounting separates trust activity by program.
Trust Reconciliation
Discuss:
- Premium Received
- Carrier Balances
- Commission Balances
- Refunds
- Outstanding Transactions
- Settlement Differences
- Financial Exceptions
Learn more about Trust Reconciliation Checklist.
Connect Trust Accounting with Billing
Explain relationship between
- Billing
- Payments
- Trust
- Carrier Payables
- Premium Accounting
- Receivables
Learn more about MGA Billing Software and Insurance Premium Accounting for MGAs.
Connect Trust Accounting with Payment Processing
Discuss:
- ACH
- Credit Cards
- Payment Links
- Failed Payments
- ACH Returns
- Refunds
Learn more about MGA Payment Software.
Connect Trust Accounting with Carrier Settlements
Explain:
- Settlement Preparation
- Settlement Review
- Settlement Reconciliation
- Carrier Payable Tracking
Financial Controls
Discuss:
- Approval Workflows
- Audit Trails
- User Permissions
- Exception Reporting
- Accounting Period Controls
- Transaction History
Reporting
Cover reports including:
- Trust Balances
- Carrier Payable
- Commission Payable
- Premium Received
- Refunds
- Outstanding Balances
- Reconciliation Exceptions
- Settlement Status
Learn more about Insurance Financial Reporting Software.
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 Accounting | Premium Accounting |
|---|---|
| Tracks account balances | Tracks complete policy-level trust activity |
| Limited premium visibility | Premium collections connected to trust balances |
| Carrier balances maintained manually | Continuous carrier obligation tracking |
| Commission accounting separate | Commission activity connected to trust accounting |
| Refunds managed independently | Refunds remain connected to premium history |
| Manual trust reconciliation | Continuous trust reconciliation |
| Limited policy visibility | Complete policy-level accounting |
| Basic audit trail | Complete transaction history and audit visibility |
| Minimal financial controls | Approval workflows, reconciliation status, accounting controls |
| Settlement calculations built manually | Settlement-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.
Modernize Trust Accounting for Your MGA
Explain how Premium Accounting centralizes premium trust accounting, carrier balances, commissions, settlements, reconciliation, reporting, and financial controls.