Most insurance agency owners have a trusted CPA they rely on for tax preparation and year-end compliance. While a CPA is a valuable part of your financial picture, they typically don’t address the day-to-day accounting, trust reconciliation, AMS integration, or financial strategies that insurance agencies truly need. 

Running an independent insurance agency is different from running any other small business. Your accounting needs go far beyond traditional bookkeeping and tax filing, and most CPAs – no matter how skilled – aren’t equipped to handle the unique requirements of agency operations.

That’s where Angela Adams Consulting comes in. Our team specializes in insurance-specific accounting and financial management, bridging the gap between tax compliance and operational efficiency.

Here’s why your agency needs more than just a CPA:

1. Insurance-Specific Accounting Expertise

A general CPA works with many industries – restaurants, retail, healthcare – but rarely do they specialize in insurance. That lack of focus can lead to missed nuances in your agency’s financials. Insurance agency accounting involves trust accounts, direct bill commissions, carrier reconciliations, and premium financing – all areas that CPAs may not fully understand.

Mistakes here can lead to compliance issues, inaccurate reporting, or even regulatory penalties.

Our team at Angela Adams Consulting focuses solely on insurance agencies.

We understand:

• How to properly reconcile carrier downloads and commissions.
• The critical importance of trust account accuracy.
• How your Agency Management System (AMS) impacts financial data and compliance.

With this specialized knowledge, we ensure your books are not only accurate but also aligned with insurance industry standards.

Learn more about our Insurance Agency Accounting Services.

2. Operational Support Beyond Tax Season

Your CPA’s main focus is on annual tax returns and compliance filings, but what about the other 11 months of the year?

Your agency’s financial management is ongoing, and poor oversight during the year often leads to tax season surprises.

At Angela Adams Consulting, we provide year-round accounting support that goes beyond basic bookkeeping.

This includes:

• Monthly reconciliations to catch errors early and keep books accurate.
• KPI tracking and reporting to measure profitability and spot trends.
• Consulting and financial coaching to help owners make data-driven business decisions.

Instead of scrambling at year-end to provide your CPA with clean numbers, our team keeps your financials in order all year long, making tax season smoother for both you and your CPA.

3. Integration with Your Agency Management System

Your CPA knows QuickBooks or similar software, but likely doesn’t know how to navigate AMS360, Epic, or HawkSoft—and that’s a problem.

Your AMS contains the source of truth for client accounts, commissions, and premium transactions. If it isn’t reconciled properly with your accounting software, you risk duplicate data entry, incorrect balances, and time wasted trying to untangle discrepancies.

Our experts specialize in bridging this gap. We ensure your AMS and accounting software work together seamlessly by:

• Reconciling AMS transactions with financial records.
• Ensuring trust account compliance within your AMS.
• Providing reports that reflect both financial health and operational performance.

This level of integration is something CPAs typically don’t offer – and it’s critical for running a clean, efficient agency.

Explore our Virtual Accounting Solutions.

4. Compliance and Trust Account Management

Improper trust accounting is one of the most common – and costly – compliance pitfalls for insurance agencies. While CPAs understand accounting principles, they often don’t specialize in state insurance regulations or Department of Insurance (DOI) trust account requirements.

Our accounting team:

• Maintains audit-ready trust accounts for every client transaction.
• Provides monthly reporting to ensure you stay compliant.
• Helps you avoid fines, penalties, or E&O exposure that can result from mismanagement.

This proactive compliance approach goes beyond what traditional CPAs are typically hired to do.

5. Strategic Growth and Profitability Insights

A CPA focuses on tax liability. We focus on helping your agency grow.

By analyzing your financials in the context of your operations, we provide actionable insights that drive profitability, including:

• Producer compensation analysis to ensure your team is incentivized properly.
• Identifying expense inefficiencies and cost-saving opportunities.
• Financial planning for acquisitions, technology upgrades, or expansion.

This level of operational financial consulting positions your agency to thrive—not just survive tax season.

Ready to Go Beyond Just a CPA?

Your CPA is a valuable partner—but they’re only one piece of the puzzle. Angela Adams Consulting complements your CPA’s work by managing the insurance-specific accounting and operational support they can’t provide. Together, we ensure your agency’s financials are accurate, compliant, and positioned for growth.

Book a Meeting Now to see how our team can help your agency gain control of its accounting and finances.