Insurance
Agent / Broker Commission Expense
Recording commissions paid to insurance agents and brokers for new and renewal business.
| Account Name | Type | Debit ($) | Credit ($) |
|---|---|---|---|
| Agent Commission Expense (Gross) | Expense (+) | 60,000.00 | - |
| Commissions Payable | Liability (+) | - | 60,000.00 |
💡 Accountant's Note
Commissions are typically 10-25% of written premium depending on the line of business. Motor and health commissions are lower; liability and specialty lines are higher. Renewal commissions are typically lower than new business.
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