How to book bordereau premium adjustments
Recording corrections to premium totals discovered during the reconciliation of the monthly bordereau report.
| Account Name | Type | Debit ($) | Credit ($) |
|---|---|---|---|
| Premiums Receivable | Debit | 450.00 | - |
| Premiums Payable - Carrier | Credit | - | 450.00 |
💡 Accountant's Note
Adjustments are necessary when the MGA's internal ledger differs from the final bordereau accepted by the risk bearer.
Practitioner & Systems Framework
💻 ERP Architecture
Process via a journal entry linked to the specific bordereau batch ID.
⚠️ Audit Flags
High frequency of manual adjustments suggesting poor data integration between policy and accounting systems.
📄 Required Documentation
Validated bordereau report and reconciliation worksheet.
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Related Journal Entries
Insurance Broking & MGA
Insurance Commission — Recognized at Policy Inception/Renewal (Point-in-Time)
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Contingent Commission / Profit Sharing — Variable Consideration Constrained Until Carrier Determination
Insurance Broking & MGA
Premium Trust Account — Client Premium Received (Not Broker Revenue — Fiduciary Obligation)
Discussion & Community Questions
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