Allow your business to thrive by trusting West Point Insurance Services to handle your accounting operations. We offer 100% on-shore accounting outsourcing services and provide the necessary staff, systems, and equipment to provide accurate reports efficiently. When you use a third party for your Accounting Business Process Outsourcing (BPO) solutions, you can spend more time focusing on your business and leave the day-to-day bookkeeping to us. Reach out to West Point Insurance Services for Florida’s premier choice for BPO Accounting Services.
Insurance Accounting Services
When you trust West Point Insurance Services to handle your BPO Accounting Services, our Billing department will keep track of posting, balancing, and controlling premium receivables. Our team also handles Accounting and processing the payment of commissions to Agents and Producers and disbursements for refunds, commissions, claims, and other general expenses. As part of our Accounting outsourcing services, we provide the required bureau and statistical reporting to your appointed statistical agent and help prepare you for state, federal, premium, municipal, 1099, and escheat tax returns. Upon reasonable requests, our team is also available to assist with additional functions and reports as needed.
Client Accounting
Leave the day-to-day accounting responsibilities to West Point Insurance Services. We handle BPO Accounting Services on a daily, weekly, monthly, and annual basis:
Daily
Our team reviews nightly reports for discrepancies, and places stop payments on policy refund checks when necessary.
Weekly
We review and print checks for policy refunds.
We print checks for client claims.
Monthly
We review monthly reports and client statements for accuracy.
We review agent commissions for accuracy and print agent commission checks, so you don’t have to.
Annually
We will prepare and print 1099 forms for clients.
We will provide important information from the Service Organization Control (SOC) Audit.
Find out more ways West Point Insurance Services can help with your client accounting by contacting our team.
Compliance Reporting
The West Point BPO Accounting Services team is prepared to assist you with compliance reporting on a monthly, quarterly, and annual basis:
Monthly
We will handle your Office of Foreign Asset Control (OFAC) Reporting by using WatchDog to run address checks and run a report to provide for policies with a foreign address.
Quarterly
We will help with Quarterly Supplemental Reporting (QUASR) and provide the required data to be uploaded to the Florida Office of Insurance Regulation website.
We provide Periodic Online Insurance Data Reporting (POIDRS) to clients with policies in Louisiana.
Our team handles Texas Insurance Checking Office (TICO) Reports of premium and loss data for Texas policyholders.
All data and reports are formatted according to the International Organization for Standardization (ISO).
Annually
Our team prepares Premium Tax information to help your clients prepare their Florida state tax returns.
We provide your Market Conduct Annual Statement and automatically calculate and handle your fees for the Florida Hurricane Catastrophe Fund (FHCF).
Trust West Point Insurance Services
When it comes to premium BPO Accounting Services, West Point Insurance Services is here for you. We want to help you improve your business by taking on the grunt work so you can handle what’s truly important. Contact West Point to begin taking advantage of our BPO Accounting Services.
