Telecommunications
Device Insurance Premium — Monthly Recurring
Recognizing the telecom's agent commission for selling device insurance on behalf of an insurer.
| Account Name | Type | Debit ($) | Credit ($) |
|---|---|---|---|
| Accounts Receivable (Device Insurance Agent Fee) | Asset (+) | 2,500.00 | - |
| Device Insurance Commission Income | Revenue (+) | - | 2,500.00 |
💡 Accountant's Note
When telecoms sell device insurance as an agent of an insurance company, only the agent commission is revenue — not the full premium. Under IFRS 15, acting as an agent requires net presentation.
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.