Bookkeeper struggles to reconcile insurance broker's complex trust and commission accounting due to manual spreadsheet tracking and unclear client systems.

Workarounds Described

• Built a spreadsheet to track client invoice payments, commission transfers, payments to carriers, and carrier commission payments
• Manually creates journal entries to recognize commission revenue and reduce Funds Held in Trust
• Sent client a spreadsheet asking her to fill in gaps about policies
• Client explains process verbally but seems to have no actual system

Implied Software Gaps

• Software that automatically links client policies to payments and commissions across two bank accounts
• Automated journal entry generation for trust liability reduction and commission revenue recognition
• Built-in policy management with commission splitting and carrier payment reconciliation

TrustWise Broker Bookkeeping

TrustWise is a specialized reconciliation and accounting add-on for insurance brokers using QuickBooks Online. It automates trust account tracking, commission splits, and carrier payment matching, eliminating manual spreadsheets and reducing hours of cleanup work.

Existing Solutions Mentioned