Overview
Journal Entry Automation translates policy, billing, and commission events into balanced accounting entries without manual intervention. It accelerates month-end, improves accuracy, and gives finance leaders confidence that premium, taxes, commissions, fees, and refunds are posted correctly. This capability sits inside Integrated Accounting, so entries are policy-aware from day one.
For MGAs, MGUs, wholesalers, and carriers, Expert Insured brings accounting closer to the source of truth. As an insurance management platform, it eliminates rekeying and reconciles operational activity with the general ledger in real time.
Why it Matters
- Reduces close time by turning high-volume policy activity into ready-to-post entries with built-in validations.
- Improves GAAP alignment through standardized mappings and recognition rules tailored to insurance.
- Lowers error rates by replacing spreadsheets and manual journal prep with consistent automation.
- Enhances transparency with complete audit trails tied to policies, producers, and carriers.
Who it is For
- Distribution and carrier organizations, including MGAs, MGUs, and Program Administrators, Wholesalers, and Carriers
- Lines of business teams across Commercial Specialty, Transportation, Workers Compensation, and Personal Lines
- Finance, accounting, and operations teams responsible for revenue recognition, producer settlements, and carrier reporting
How it Works
- Event-driven entry creation from policy lifecycle milestones such as quote to bind, endorsements, cancellations, reinstatements, and renewals, leveraging Policy Management and the Policy Lifecycle Overview
- Configurable mapping to an insurance-specific chart of accounts with reusable templates in Insurance-Specific COA Setup
- GAAP-ready recognition logic for premium, commission, taxes, fees, and refunds aligned with GAAP Accounting Integration
- Automated receivable and payable postings for policyholders and producers tied to subledgers in Policy and Producer Receivables and Payables
- Approval workflows and posting controls with role-based permissions and journal validation checks
- Scheduled accruals and deferrals, including unearned premium and deferred commission roll-forwards
- Batch processing and reversals with full audit history and source document references
- Program, carrier, and LOB segmentation that feeds downstream reporting and Carrier Bordereaux Generation
Why Expert Insured is Best for Journal Entry Automation
Expert Insured combines policy-aware triggers with GAAP-aligned accounting, so journals are created at the moment of operational change and posted correctly the first time. Prebuilt insurance mappings, out-of-the-box COA templates, and controls reflect how MGAs, wholesalers, and carriers actually transact.
Unlike generic tools, our agency management system understands endorsements, cancellations, producer splits, and carrier settlements natively. As an insurance operations platform, it unifies policy data and accounting rules to reduce reconciliation work while preserving auditability.