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Applied Epic accounting, premium trust, carrier and commission reconciliation, agency versus direct bill, month-end close — written for the people who actually have to do the work. Updated regularly with sources cited.
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How an insurance brokerage chart of accounts should be structured — segregated trust banks, premium payable, direct-bill commission receivable, commission vs contingent revenue, producer payables — and how it maps to Applied Epic.
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Why generic bookkeeping fails insurance brokerages — premium trust, agency vs direct bill, carrier reconciliation, commission revenue, producer splits — and what to look for in a bookkeeper for an insurance brokerage.
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How agency-bill and direct-bill premium flows hit a brokerage's books — premium, trust, premiums payable, commission income, and receivables — and how Applied Epic models each.
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How accounting works in Applied Epic for Canadian insurance brokerages — the accounting module, direct vs agency bill, trust, reconciliation, and month-end close.
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A step-by-step monthly close for Canadian insurance brokerages — trust reconciliation, carrier statement matching, direct-bill commission rec, accruals, GL close, and the financial package.
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How financial compliance works for Canadian insurance brokerages — provincial regulators, premium trust expectations, record-keeping, corporate year-end and T2, and the external accountant's role.
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How to reconcile insurer statements to your broker management system — agency vs direct bill, the premiums payable schedule, aged balances, disputes, commission recognition, and producer splits.
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The monthly financial reporting and KPIs Canadian insurance brokerage owners should see — P&L, balance sheet, trust position, revenue by line and producer, and lender readiness.
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What a premium trust account is, why it must be segregated, trust assets vs liabilities, surplus vs shortfall, and how Canadian brokerages reconcile it every month.
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A practical guide to outsourcing insurance brokerage accounting in Canada — when it makes sense, what to look for, in-house vs outsourced, cost framing, and how a transition works.
Read pillar guide →Plain-language definitions of the accounting, regulatory, and operational terms used in Canadian insurance brokerage bookkeeping — premium trust, agency vs direct bill, commission types, Applied Epic, Canadian regulators, and CRA basics.
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