Keeping track of income and expenditures is the most important aspect of any business, and insurance agencies are no exception. Yet, so many agency owners don’t pay attention to their accounting systems, missing a huge opportunity to save time and money by...
If you’re tracking your agency’s premiums and commissions by Excel STOP right now! Back away slowly from your computer…you don’t need to do this! Using Excel to track your commissions is like using a pair of scissors to cut your lawn: it gets the job done, but it is...
In a recent post, we took a look at the differences between cash and accrual accounting methods, both of which have their own benefits. No matter which methods your agency is using, you should be using it within an integrated accounting system. Integrated accounting...
In our last post we looked at the differences between cash and accrual accounting and, although each has its own benefits and drawbacks, most insurance agencies tend to use an accrual accounting system. If you’re using a cash system you may find that, as your agency...
In your day to day, you may not think much about the on-going processes of your agency. As we mentioned in a previous post , it is important to know your agency’s systems, and to make sure you’re getting things done in the most efficient and effective ways. One of the...