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Insurance Accountant Services

Expert Insurance Bookkeeping Services

Insurance Bookkeeping Services in Long Island, NY

Insurance agencies have a financial picture unlike most small businesses: premiums pass through your accounts, carriers pay commissions on their own schedules, and producers need accurate payouts. Michael Verderosa CPA, P.C. provides insurance bookkeeping for independent agencies, brokerages, and insurance professionals across Long Island and Suffolk County, including Mastic Beach and Patchogue. We keep your books accurate and your taxes planned, so you can focus on clients and growth.

Why Insurance Agencies Need Specialized Bookkeeping

  • Premiums aren’t all your income. Much of what flows through your accounts belongs to carriers, and mixing it with agency revenue distorts your financials.
  • Commission income is complex. Carrier statements, chargebacks, contingent commissions, and renewal commissions all need correct tracking.
  • Producer payouts need precision. Splits, overrides, and 1099 reporting must be right every time.
  • Cash flow can be uneven. Seasonal renewals and delayed carrier payments make clear monthly reporting essential.

Our Insurance Bookkeeping Services

  • Premium and fiduciary account reconciliation: Monthly reconciliation of premium trust accounts, keeping agency, carrier, and policyholder money separate.
  • Commission tracking and carrier statement reconciliation: We match statements to deposits, flag discrepancies and chargebacks, and record new, renewal, and contingent commissions.
  • Producer and agent commission payouts: Accurate splits and tiered payouts, plus year-end 1099s.
  • Monthly bookkeeping and bank reconciliation: Categorized transactions, reconciled accounts, and clean monthly financial statements.
  • Financial reporting for agency owners: Profit and loss, balance sheet, and revenue by line of business, carrier, or producer.
  • Payroll and payroll tax compliance: Payroll for agents and staff with New York and federal compliance. Learn about our payroll services.
  • QuickBooks and Xero setup, cleanup, and training: An insurance-specific chart of accounts, cleanup of behind books, and team training. See our QuickBooks services.
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01
Premium Tracking & Accuracy

Ensure every policy premium is recorded correctly for transparent reporting.

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Regulatory Compliance

Stay ahead of insurance industry regulations and avoid costly penalties.

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Commission Management

Simplify agent commission calculations and payouts without errors.

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04
Tax Planning

Maximize deductions and credits while staying compliant with tax laws.

ABOUT ME

Meet Michael Verderosa, Your Trusted CPA in Suffolk County, NY

At Michael Verderosa CPA, P.C., we help individuals and businesses in Mastic Beach, Patchogue, and across Suffolk County achieve financial stability through expert tax preparation, accounting, and IRS problem resolution. Our mission is simple: provide personalized solutions that make compliance easy and maximize your savings.

With 12+ years of experience in public and private accounting, Michael brings expertise from working with BDO (one of the world’s top 5 accounting firms) and Nature’s Bounty, a multi-billion-dollar corporation. This background allows us to deliver tailored tax strategies and accounting solutions for both small businesses and individuals in Long Island and New York.

Michael specializes in:

video showcase
our services

Why Choose Michael Verderosa CPA
for Insurance Accountancy?

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Time-Saving Solutions

Our streamlined processes reduce administrative burden and free up your time.

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Transparent Reporting

Get clear, accurate financial statements that build trust and support growth.

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Stress-Free Compliance

We proactively manage regulatory requirements so you never miss a deadline.

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real testimonials

What They
Say About Our
Company?

Kim Marie Nemeth
Michael is very professional and very knowledgeable. Working with him brought immense peace of mind and security, knowing my finances were in order. He handles all my business and personal accounts. He’s my forever CPA! Price assessment Great price Services Trusts & estates accounting, Business tax return preparation, Individual tax planning
Kim Marie Nemeth
Business Owner
Jenna Glock
Michael has always been extremely helpful, trustworthy, honest, and informative. He is nothing but a pleasure to deal with and incredibly responsive. His services are invaluable. With his great knowledge and his honest character, you could not be in better hands
Jenna Glock
Business Owner
Kayla Rooney
For many years, Michael Verderosa has been my trusted accountant, consistently demonstrating exceptional professionalism and a friendly demeanor. His thoroughness and expertise make the accounting process seamless and stress-free. I highly recommend his services to anyone seeking a reliable and personable accountant.
Kayla Rooney
Business Owner
Jeff Yalden
Simply amazing! I reached out to Michael and his team years ago in desperation. He’s since relieved me of a lot of stress and got me on the right track. Highly recommend without a doubt. Love working with him and the team.
Jeff Yalden
Business Owner
contact details

Our Contacts

We’re here to help you simplify accounting and achieve financial success. Whether you need tax planning, bookkeeping, payroll, or business consulting, our team is ready to provide personalized solutions. Fill out the form below or reach us by phone or email—we’ll respond promptly and guide you every step of the way.

Our Address:

82-84 E Main St Unit 5, Patchogue, NY 11772, United States

Our mailbox:

Michael@verderosacpas.com

Our phones:

631-657-6957

GET IN TOUCH

Ready to Get Started?

Book Your Private Consultation with Michael Verderosa Online.

Book Now