Problem
Homecare providers using AlayaCare face challenges in managing financial data due to a lack of seamless integration with accounting systems like QuickBooks. This results in time-consuming manual data entry, increased risk of errors, and difficulties in maintaining accurate financial reporting and revenue recognition.
Solution
FinanceLink offers an integrated solution that bridges systems of record like AlayaCare with QuickBooks (and other accounting systems), enabling automated synchronization of financial data, including ledger entries, invoices, and revenue accruals. By streamlining these processes, FinanceLink ensures data accuracy, simplifies revenue recognition, and reduces manual effort. This integration empowers home care businesses to maintain real-time financial oversight, improve operational efficiency, and focus more on delivering quality care.
Key Features/Functionality
Ledger Sync
- Moves financial data from home care software to ERP or financial system for accurate reporting. Validates COA and offers configurable summarization by date group (day, week, month), branch, customer etc. This mode is for those users who would like to use their practice management solution for their full revenue cycle, then bring all financial transactions from that system to their accounting system for record keeping.
Invoice Sync
- Transfers invoices, payments, and company details between home care software and ERP or financial system. Supports syncing draft or finalized invoices with optional line-item details and custom descriptions using a token-based builder.
Accruals & Revenue Recognition
- Generates accrual entries for unbilled services and aligns revenue recognition with service dates. Tracks deferred revenue and automatically converts it into income upon posting.
Self-Service Portal
- Provides a user-friendly portal for accessing resources and tools to efficiently review and resolve synchronization errors.
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