Senior Living Finance & Accounting Services Senior Living Finance & Accounting Services

Accounting & Finance Services for Senior Living

Optimize Finance & Accounting Operations, Save Costs and Overcome Talent Shortage

Senior living communities face numerous complexities – from tight operating margins, talent shortage, and limited technological sophistication, to rising demand for top-tier personal care. At QX, our expertise lies in providing custom finance and accounting services to senior living communities. With QX, you can:

  • overcome talent shortage with a pool of 2000+ qualified accountants.
  • leverage the power of data through digitized reporting, budgeting and forecasting.
  • enhance operational efficiency through automation and process optimization.
  • achieve 40-60% savings by outsourcing your back-office accounting operations.
QX Senior Living Finance & Accounting Services

Finance & Accounting Services for Senior Living Communities

Our services cater to a range of senior living options, including independent living, home health care, service-enriched housing, assisted living, continuing care retirement community (CCRC), and nursing homes. We offer:

Community Accounting

  • Bookkeeping & Accounting
  • Accounts Payable
  • Revenue Recognition
  • Bank Reconciliations
  • Deposit Management
  • Damage Recharges
  • Tenancy to Income Reconciliation
  • Migration Budget Management

 

Development Accounting

  • Accounts Payable
  • Job Costing
  • Project Costing
  • CIS Data Management & Reporting
  • Retention Ledger
  • WIP Accounts
  • Balance Sheet Reconciliation
  • Accounting & Bookkeeping
  • Drawdown Working

Lease Administration Services

  • Verification of Parties to Lease Agreement
  • Tenant Space Information
  • Term, Lease Index and Notes
  • Base Rent & Renewals and Abatement/Concession
  • Tenant Improvement Allowance
  • Deposit Information
  • Late Charges
  • Additional Rent (CAM/Operating Expenses, RE Taxes, Utility/HVAC, Insurance and other)

Corporate Accounting

  • Accounts Payable
  • Billing & Accounts Receivable
  • Treasury/Bank Posting & Reconciliation
  • Preparation of Monthly P&l
  • Month End Accounting
  • Audit Support

Management Accounting

  • Accruals
  • Prepayments
  • Balance Sheet Reconciliations
  • WIP Account Reconciliations
  • Retention Account Reconciliations
  • Financial Planning and Analysis

Investment Accounting

  • Lender Reporting
  • Rent Reserve Working
  • Drawdown Working

Why Choose QX Global Group?

EXPERIENCED STAFF

Gain access to skilled property accountants through dedicated and adaptable accounting teams.
EXPERIENCED STAFF

Leverage our team of 3250+ employees operating across 17 offices and 5 delivery centers.
EXPERIENCED STAFF

Implement accounting best practices to boost operational efficiency.
EXPERIENCED STAFF

Effortlessly integrate newly acquired properties with offshore, nearshore & onshore delivery models.
EXPERIENCED STAFF

Improve productivity with cutting-edge technology and customized software & automation solutions.
EXPERIENCED STAFF

Enhance your bottom line by reducing operational costs by 40-50%.

Transforming Senior Living Accounting Operations with Automation

The QX team works well with all industry-standard software to transform accounting operations for your senior living communities. We are also flexible about including any additional systems in our solutions to suit your organizational needs.

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QX’s Proprietary Automation and Software Solutions

QX empowers businesses with a wide range of proprietary software solutions to automate manual finance and accounting tasks, cut down operational costs and optimize efficiency.

QX ParseMastr
QX MailerDesk
QX ReCo360
QX Procurely
QX Spendchex
QX VMSBot
QX IntraNxt
QX QuickReco

Resources

Case Study

Leading Senior Living Provider Partners with QX to Transform Their Finance & Accounting Operations

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Webinar

Challenges and Opportunities in Senior Living Accounting and Finance

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Blog

Building a Robust FP&A Process: Best Practices and Key Considerations

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Ready to unlock the potential of QX’s finance & accounting solutions for your senior living business?

Book a Consultation