Expert MRI Accounting for Assisted Living Communities
MRI has no assisted living module. An operator running MRI assembles the platform from general property and lease modules, then bolts on a third party care system for census, level of care billing and medication records. The accounting sits at the seam between those two systems, and that seam is where assisted living books in MRI go wrong.
Assisted Living Accounting Inside MRI
What Changes When You Run This Vertical On This Platform
Where it breaks
One MRI revenue account hides where margin comes from
MRI's unit and lease structures are built for commercial tenants and standard residential terms, not for a resident who moves in mid-month and pays a base rate plus tiered care charges that change with acuity. Because MRI has no care module, those charges are calculated in the outside care system and posted to MRI as a lump journal entry, usually to one revenue code. Base rent, level of care fees, community fees and ancillary charges land in the same bucket. The error goes unnoticed until someone tries to compare margin by building against margin by resident and cannot separate the two.
How REA handles it
REA re-codes revenue at the care system handoff
REA sets up the chart of accounts so base rent, level of care fees, community fees and ancillary charges post to separate revenue codes inside MRI, even when the source data arrives as one file from the care system. We build the mapping between the care system's billing categories and MRI's revenue codes before the first journal entry posts, not after a year of commingled data needs to be untangled. Mid-month move-ins are prorated against the actual move-in date, matched to the lease or occupancy record in MRI, not estimated by hand at month end.
What we check in your MRI instance
- Revenue split across rent, care, and ancillary codes
- Move-in proration matches the actual move-in date
- Resident deposits booked as liabilities, not income
- Care system journal entry maps to correct MRI codes
- Payroll allocated to communities by actual hours
The Full Scope of the Engagement
Two Pages Carry the Detail
This page covers what is specific to running Assisted Living books in MRI. The complete service scope, process, and pricing conversation live on the two pages below.
The vertical
Assisted Living Accounting
Full scope, monthly process, property types, FAQs and the team on the account.
See the Assisted Living pageThe platform
MRI Bookkeeping
What MRI does well, where its accounting breaks, and how REA works inside your own instance.
See the MRI page- 01
Trust Accounting
Tenant, owner, and security deposit money kept separate, tied out, and ready for a state audit at any time.
- 02
Bank Reconciliation Services
Every operating, trust, and escrow account reconciled on a fixed schedule, with the variances chased down rather than carried forward.
- 03
Accounts Payable & Receivable
Vendor invoices coded and paid, tenant receipts applied, management fees taken, and owner distributions cut on time.
- 04
Bookkeeping Cleanup & Catch-Up
Months or years of unreconciled books diagnosed, corrected, and brought current so the numbers you report are numbers you trust.
- 05
CAM Reconciliation
Common area maintenance pools built from the lease terms, reconciled against actuals, and billed or credited with a defensible tenant statement.
Experts In All Property Types
Residential, commercial and everything in between. The asset class changes what the books have to prove, and our teams are staffed accordingly.
- Single-Family
- Multifamily
- Student Housing
- Affordable Housing
- Community AssociationsSee the page
- CommercialSee the page
Check Out What Our Clients Have To Say About Us
Property Managers, Investors & Owner Operators
Onboarding and responsiveness
Real Estate Accounting truly is a special company. They helped as if they were a part of our company, with the concern and caution as an employee would have, but even more. They quickly ascertained our needs and developed an effective team to help with our accounting needs. They were extremely responsive and always accurate. I would recommend their services to anyone who needs help with their property management accounting.
Smaller portfolio, still looked after
Adam the owner took a personal interest in my situation and was willing to work with me to see if his company was a good fit. I may be too small for them but I would highly recommend them to anyone considering a bookkeeper for their property management business.
Came from a bookkeeper who did not know real estate
Following a series of erroneous financials from my previous bookkeeper, who lacked expertise in real estate, it's been truly remarkable to receive not only accurate financials on a consistent basis but also proactive advice without prompting. The REA team is a game-changer in real estate accounting!
230+
Property Accountants
30M+
Commercial Sq. Ft.
Up to 50%
Saved vs In-House
Every month
On-Time Close
Running Assisted Living On Something Else?
Same Vertical, Different Platform
- AppFolioAssisted Living bookkeeping in AppFolio
- BuildiumAssisted Living bookkeeping in Buildium
- EntrataAssisted Living bookkeeping in Entrata
- QuickBooksAssisted Living bookkeeping in QuickBooks
- Rent ManagerAssisted Living bookkeeping in Rent Manager
- YardiAssisted Living bookkeeping in Yardi
- RealPageAssisted Living bookkeeping in RealPage
Frequently Asked Questions
MRI doesn't have a senior living module. How do we track level of care billing?
MRI doesn't build senior living products, so level of care billing runs in a separate care management system outside MRI entirely. That system calculates the resident's tiered rate based on acuity and feeds MRI a summary for the general ledger. The accounting risk lives in that feed: if it posts as one lump number, you lose the ability to see care revenue separately from rent. We set up the mapping so it doesn't.
Can MRI's lease module handle a resident moving in mid-month?
MRI's lease and unit modules were built for commercial tenancies and standard residential terms, so mid-month proration for a single resident is not a native calculation the way it might be in dedicated senior living software. It can be set up to prorate correctly, but it takes configuration, not a default. We check that the proration formula in your instance actually matches the resident's real move-in date before we accept the number for the books.
We already have a third party care system for census and billing. Why do we need REA if MRI is just receiving the data?
Because 'just receiving the data' is where the risk sits. The care system and MRI are built by different vendors with different logic, so the handoff between them is rarely automatic and rarely audited. We review what the care system sends, how it lands in MRI, and whether base rent, care fees and deposits are landing where they should. That reconciliation is the actual accounting work in this vertical, not a footnote to it.
Ready for Accurate Assisted Living Books in MRI?
Schedule a call with our team to talk through your MRI instance, what it is doing to your assisted living financials, and what REA would take on.