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Growing from a single community to a multi-property organization creates complexity that catches many operators by surprise. What worked with one or two locations becomes unworkable at scale, particularly in financial management. This is where robust senior living financial software becomes essential to sustaining growth.
Each property operates semi-autonomously with its own chart of accounts, billing cycles, and procedures. When month-end arrives, the corporate office faces a daunting task: collecting financial data from each location, standardizing formats for comparison, identifying and investigating variances, consolidating results, and producing reports for leadership.
This process often takes 2-3 weeks, leaving executives making decisions on month-old data. By the time you identify a problem at one property, it may have persisted for months. Without assisted living financial software designed for multi-entity operations, this challenge only compounds as you scale.
Sage Intacct offers a Multi-Entity Shared (MES) environment that provides the ability to have a single core chart of accounts shared between all entities. This is possible because of Sage Intacct's Dimensional Chart of Accounts, which provides Dimensions that house the information traditional systems store in the segments of their GL accounts.
Further, because all entities are housed in a single instance of Sage Intacct, master records can be shared and maintained at the Top Level, and there is no need to log in and out of entities. If you have access rights, simply navigate to another entity and have as many of them open as you like. Automatic inter-entity due to/from transactions and automated eliminations during the consolidation process are another great benefit of the MES environment.
Sage Ai Close Automation is a suite of AI-powered tools designed to streamline financial operations, standardize key workflows and deliver real-time insights within Sage Intacct. By reducing manual effort and improving decision-making, Close Automation helps finance teams save time, deliver faster insights, and drive better business performance.
With features like Variance Analysis, Close Assistant, Subledger Reconciliation Assistant, and Close Workspace, finance leaders can move from reactive problem-solving to proactive financial management.
Multi-property organizations struggle to balance operational consistency with local flexibility. Corporate leadership wants standardized processes, consistent reporting, and unified financial controls. Property managers need flexibility to respond to local market conditions, manage unique facility characteristics, and maintain autonomy.
Finding the right balance requires senior living property management software that enables standardization where it matters while allowing flexibility where appropriate. Sage Intacct has a property management module that works in tandem with their financial system.
As organizations grow, maintaining appropriate financial controls becomes increasingly challenging. Manual review of all transactions is impossible. Inconsistent approval workflows create bottlenecks or control gaps. Lack of real-time visibility prevents early detection of issues. Difficulty tracking inter-entity transactions creates reconciliation headaches.
Many growing organizations experience their first significant fraud incident during this scaling phase due to inadequate controls and visibility. This is precisely why senior living financial software with robust security features is non-negotiable.
Sage Intacct is not only a fully GAAP-compliant solution, but the only accounting system endorsed by the AICPA. In addition to tight security and controls, a plethora of approval workflows, and audit trails on every transaction, master record, configuration screen, and financial report, Sage Intacct is a fully HIPAA-compliant solution, as well.
Multi-property organizations must make complex resource allocation decisions. Which properties warrant capital investment? Where should you deploy additional marketing resources? Which locations would benefit most from additional staff? These decisions require accurate, timely financial data that clearly shows performance by property, department, and service line.
Because these are all tracked within Sage Intacct's Dimensional Chart of Accounts, slicing and dicing your reporting is as easy as a click of button. Combining reports, charts, and graphs together in a cohesive dashboard places the information you care about most upfront and center so that you can make the important decisions your organization counts on.
Single-location systems rarely scale effectively. QuickBooks or entry-level accounting software becomes unworkable when managing multiple entities. Common problems include inability to consolidate financials efficiently, lack of role-based access by property, no support for inter-entity transactions, limited custom reporting capabilities, and inadequate approval workflows.
Organizations often limp along with inadequate systems, investing thousands of staff hours in manual workarounds rather than implementing appropriate property management software and assisted living financial software designed for enterprise operations.
Multi-property organizations need reporting at multiple levels: individual property performance, regional or portfolio rollups, consolidated organizational results, and comparison reports across properties. They also need to slice data differently for different audiences: board of directors, property leadership, department managers, and external stakeholders.
Creating these reports manually is time-consuming and error-prone. Modern senior living property management software should automate these processes and deliver insights in real-time.
Most organizations hit critical inflection points at predictable stages. At 3-5 properties, manual consolidation becomes extremely time-consuming. At 6-10 properties, you need dedicated corporate finance staff. At 10+ properties, inadequate systems create serious operational risk. At 15+ properties, you absolutely need enterprise-level management software that talks seamlessly with your senior living financial software.
Smart operators implement systems and processes that can scale before hitting crisis points. This means selecting financial software designed for multi-entity operations, establishing standardized charts of accounts and procedures, implementing strong financial controls and approval workflows, and creating reporting structures that work across properties.
Organizations experiencing growth should assess current systems and identify scaling limitations, evaluate senior living property management software solutions designed for multi-entity operations, standardize processes while building in appropriate flexibility, and invest in training and change management.
The cost of inadequate systems grows exponentially with each additional property. Addressing these challenges proactively with the right assisted living financial software positions your organization for sustainable, profitable growth.
Solving 5 top financial challenges in senior living is a piece of this path.
Check out the Journey to a New ERP or Contact us to begin your journey with an ERP built for your industry.
Sage Intacct Solutions Engineer
Todd has over two decades of experience in marketing, sales, presales, and professional services and held roles as Director of IT and CFO. Throughout his career, he successfully established and developed nine practices from the ground up. This experience equipped him with a proven track record of implementing and managing various accounting and ancillary software solutions, including Sage Intacct. He leverages his vast business and software background to lead companies to successful and efficient solutions.
