Insurance
Motor Fleet Policy — Group Premium
Recording a single fleet premium for a company insuring 50 vehicles on one policy.
| Account Name | Type | Debit ($) | Credit ($) |
|---|---|---|---|
| Premium Receivable (Motor Fleet) | Asset (+) | 42,500.00 | - |
| Written Premium — Motor Fleet | Revenue (+) | - | 42,500.00 |
💡 Accountant's Note
Fleet policies cover multiple vehicles under one contract at a negotiated group rate. The premium is written in full at inception; the UPR release follows the policy period.
Professional Excel Template
Get the automated version of this entry. Includes built-in IFRS checks, VAT calculators, and SAP-ready upload formats.
QA
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.