Hi there, 

One of my clients recently renewed their insurance policies and decided to finance the premiums. A portion of the premium was a down payment to the broker. The remaining balance is owed to the financing company in equal monthly payments. The information I am reading is a bit confusing. So I am not sure if this is a loan or a prepaid expense. Could someone please advise on how we should book these transactions?  

Thanks in advance for your help!

Best, 

Giselle