How to book non-admitted policy fees
Recording administrative fees charged to clients for surplus lines or non-admitted market placements.
| Account Name | Type | Debit ($) | Credit ($) |
|---|---|---|---|
| Accounts Receivable - Client | Asset | 250.00 | - |
| Policy Fee Revenue - Non-Admitted | Revenue | - | 250.00 |
💡 Accountant's Note
Fees charged for the additional complexity of surplus lines placements are recognized as revenue when the policy is invoiced or bound.
Practitioner & Systems Framework
💻 ERP Architecture
Automate fee generation based on the carrier type (Admitted vs Non-Admitted) in the policy system.
⚠️ Audit Flags
Discrepancies between the number of surplus lines filings and the number of fees booked.
📄 Required Documentation
Broker fee agreement and surplus lines disclosure form.
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Expert Analysis by Qusai Ahmad
General Accountant Supervisor & IFRS Specialist
Specialized in SAP GUI automation and Middle Eastern tax compliance. Building digital tools for the next generation of finance leaders.
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Discussion & Community Questions
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