How does SeniorCRE close the period without two weeks of reconciliations?
MGMA benchmarks place better-performing senior housing & care close cycles at 5–8 business days; mixed-portfolio operators frequently run 8–12 because clinical, payroll, and AR live in separate systems. Accruals are estimated, journal entries re-keyed, and by the time the financials land the operating month is half over.
Detail
Census, charges, payroll, and AR all post to the same ledger in real time. A close checklist drives the period: bank reconciliations, payer accruals, intercompany eliminations, and variance review each have an owner and a deadline. Variance thresholds flag any GL account that moves more than expected versus prior period or budget. Close packages — trial balance, P&L by community, AR aging, and management commentary — generate from the same source rather than being reassembled in Excel.
Pilot communities running close on SeniorCRE move from an 8–12 day close to a 4–6 day close, with no restatements at the next audit. Tighter close shortens the gap between the operating month and the management response to it.
Key points
- Excel month-end checklist
- Manual journal-entry packets
Key points
- Sage Intacct
- NetSuite
- QuickBooks
- MatrixCare Financials
- Yardi Voyager
https://seniorcre.com/workflows/financial/period-close