Broker Management Accounting System (BMS)

The Broker Management Accounting module (BMS) provides all the necessary accounting tools to manage a brokerage and is tightly integrated with all other modules and functions. The BMS module includes the following financial management and accounting features:

• A General Ledger System with multiple agency, branch, and department capabilities; a customizable chart of accounts; real-time posting of cheques, receipts, and journal entries; reporting tools; and bank reconciliation tools and reports

• Insurance Policy Processing options, including the processing of insurance transactions via manual input and by means of downloads from insurance carriers (where available)

• Accounts Receivable Management tools to effectively manage the accounts receivable cycle in a brokerage, including invoicing, service charges, statements, reconciliation, and reports

• Accounts Payable tools to effectively manage the accounts payable cycle in a brokerage

• In addition, The Broker’s Workstation features a User Rights system that supports appropriate internal controls and the protection of personal information.

To learn more about how our Broker Management Accounting System can work effectively for your business, request more information.