Real Estate Accounting in Idaho Falls
Idaho's requirement for a detailed list of expenditures made from the deposit is unusual, and it changes what a move-out file has to contain. It is a record of spending, not of assessment.
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Idaho rules that apply here
- Deposit return deadline
- 21 days by default, up to 30 if the lease says so
- Statute
- Idaho Code 6-321
Why Idaho Real Estate Professionals Choose REA
AppFolio Expertise, Applied to Idaho Falls
Experts in AppFolio Bookkeeping
Most states ask a landlord to describe the damage and state the amount charged. Idaho additionally asks what was actually spent out of the deposit. That distinction matters when work has not been done yet, when it was done in-house, or when the eventual cost differed from the estimate, because the statement must reconcile to expenditure rather than to a quote.
Assigned, Responsive Team
In practice that means the deposit ledger and the maintenance ledger have to connect. A charge against a deposit should trace to an invoice, a labour record or a materials cost, and where work is performed by the owner's own staff the basis for the amount needs to be documented at the time rather than reconstructed. Portfolios that assess damages from a price list and never reconcile to actual cost cannot produce what the statute describes.
Accurate Monthly Bookkeeping
Because the clock can be as short as 21 days where the lease is silent, that reconciliation has to happen quickly. We tie the move-out charge to its expenditure record as the work is authorised rather than waiting for month-end, which is the only way the statement is both accurate and on time.
Deposit Compliance for Idaho Falls Portfolios
Idaho Code 6-321
Idaho 6-321 lets the LEASE set the refund period within a statutory ceiling: 21 days where the agreement fixes no time, and in any event no more than 30 days after surrender. The deadline is therefore a document question rather than a fixed rule, and a portfolio built from several lease templates has several clocks running at once.
Idaho asks for more than an itemisation. Any refund short of the full deposit must carry a SIGNED statement itemising the amounts retained, the purpose of each, AND a detailed list of EXPENDITURES made from the deposit. That last element is a record of spending rather than of assessment, so the deposit ledger has to connect to the maintenance ledger: charges must trace to invoices, labour records or materials cost. Wrongful withholding carries treble exposure plus fees and costs.
All Idaho requirementsHow we keep you inside it
- Deposit liabilities tracked per tenant in AppFolio, so a 21 days by default, up to 30 if the lease says so deadline is answerable from the ledger
- Trust accounts reconciled three ways every month
- Deduction documentation recorded against the correct ledger
- Aging deposits flagged before the statutory window closes
Appfolio Bookkeeping Services from REA
Available to Idaho Falls Operators
Trust Bookkeeping
Leverage Appfolio's powerful bookkeeping capabilities with REA's tailored service.
See how it worksCorporate Bookkeeping
REA's skilled team, in combination with Appfolio's comprehensive toolset, addresses the complexity of your corporate financial activities.
See how it worksBank Reconciliations
Employing Appfolio's state-of-the-art system, REA offers bank reconciliation services that brings meticulous accuracy to your finances.
See how it worksFinancial Diagnostic Cleanup
REA utilizes Appfolio's advanced diagnostic tools to swiftly and effectively troubleshoot financial anomalies.
See how it worksTrust Compliance
REA pairs its accounting prowess with Appfolio's detailed reporting to deliver comprehensive Trust Compliance Verification services.
See how it worksAppFolio Accounting & Bookkeeping Services
For Idaho Falls Portfolios
- Process Review & Set Up
- Bank Reconciliations
- AP / AR
- Accurate NOI, Balance Sheets
- Recording HUD's & Accruals
- Owner Distributions
- Monthly Statements & Reports
- Management Fees
- Corporate Bookkeeping
- Tenant Chargebacks
Take the Whole Close, or One Function
Idaho Falls operators use REA for the full monthly close or for the single function that has become a bottleneck. Each one is performed inside your AppFolio instance.
Trust Accounting
Compliant, audit-ready trust funds
Learn moreBank Reconciliation Services
Three-way reconciliation, every account
Learn moreAccounts Payable & Receivable
Bills paid, rent collected, owners paid
Learn moreBookkeeping Cleanup & Catch-Up
Back books fixed and current
Learn moreCAM Reconciliation
Annual commercial true-ups
Learn moreExperts In All Property Types
- Single-Family
- Multifamily
- Student Housing
- Affordable Housing
- Community Associations
- Commercial
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
I highly recommend Real Estate Accounting (REA) services from this group. They truly are great and have helped us tremendously at a time we needed it the most. I felt very comfortable giving up all my accounting responsibilities to this team and I'm still glad I made the decision to work with this group. Nothing less than an amazing experience!
REA and team have been nothing but excellent helping our firm with its day to day financial needs. Their expertise, professionalism, and timeliness have made our lives so much easier. We foresee a long relationship with REA and team.
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.
Frequently Asked Questions
What makes Idaho's statement requirement different?
It asks for a detailed list of expenditures made from the deposit, not just charges assessed. The statement has to reconcile to what was actually spent.
What if the work has not been done yet, or was done in-house?
Then the basis for the amount has to be documented at the time, tracing to invoices, labour records or materials cost. Assessing from a price list without reconciling to actual cost does not produce what the statute describes.
How do you manage that inside 21 days?
By tying each move-out charge to its expenditure record as the work is authorised rather than at month-end. That is the only way the statement is accurate and on time.
More in Idaho
Other Idaho markets, the platforms we work in, and the functions available on their own.
AppFolio Bookkeeping for Idaho Falls
Schedule a call and we will review your AppFolio setup, your Idaho deposit handling, and what it takes to close clean every month.