Real Estate Accounting in Spokane
Spokane runs on older housing stock and smaller ownership groups than the west side of the state, which changes the accounting rather than simplifying it. Maintenance is a bigger share of every operating statement, and the recurring question is which of those spends is a repair and which is a capital improvement.
Proud AppFolio Stack™ Partners, working directly inside your AppFolio instance.
Washington rules that apply here
- Deposit return deadline
- 30 calendar days
- Statute
- RCW 59.18.280
Why Washington Real Estate Professionals Choose REA
AppFolio Expertise, Applied to Spokane
Experts in AppFolio Bookkeeping
The repair-versus-capitalise line is where Spokane books most often go wrong. On a 1940s fourplex, a roof, a furnace and a full window replacement can all land in the same quarter, and coding them all to repairs overstates the expense, understates the basis, and hands the owner a tax return that does not reflect what they actually own. We apply a consistent capitalisation policy across the portfolio and keep the fixed asset schedule current, so depreciation is not reconstructed from scratch every January.
Assigned, Responsive Team
Washington's 30-day deposit rule under RCW 59.18.280 applies statewide, and it bites harder on older stock because more move-outs involve real deductions. A deduction that cannot be evidenced inside the window is a deduction that gets refunded, so we tie the move-out ledger to the work orders and invoices behind it rather than to a summary number.
Accurate Monthly Bookkeeping
Ownership here skews toward smaller groups holding a handful of buildings each, often with the same principals across several entities. That means more intercompany activity per dollar of revenue than a large institutional portfolio would carry, and it is the piece most generalist bookkeepers leave unreconciled until year end.
Deposit Compliance for Spokane Portfolios
RCW 59.18.280
Washington RCW 59.18.280 requires the deposit, or a full and specific statement of the deductions, to be postmarked within 30 days of the tenancy ending and the tenant vacating. The window moved from 21 days to 30 under HB 1074, effective July 2023. Miss it and the right to retain any of the deposit is waived.
Deposits must be held in a trust account separate from the management company's operating funds, and the reconciliation that matters is to a per-tenant ledger rather than only to the bank balance. Property management in Washington is a licensed brokerage activity, so trust fund handling sits under the Department of Licensing rather than being a matter of internal policy.
All Washington requirementsHow we keep you inside it
- Deposit liabilities tracked per tenant in AppFolio, so a 30 calendar days 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 Spokane 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 Spokane 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
Spokane 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
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.
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.
Frequently Asked Questions
How do you handle repairs versus capital improvements on older Spokane buildings?
We set a written capitalisation policy for the portfolio and apply it consistently, then keep the fixed asset and depreciation schedules current month to month. The alternative, deciding at tax time, is how owners end up with an overstated expense line and an understated basis.
Does the Washington 30-day deposit deadline apply in Spokane?
Yes, RCW 59.18.280 is a statewide rule. The deposit or a full and specific statement of deductions must be postmarked within 30 days of the tenant vacating, and deductions need supporting documentation behind them.
We own several buildings across different LLCs. Can you keep them straight?
Yes, and it is the most common Spokane setup we see. Each entity is closed on its own books with intercompany balances reconciled monthly, so nothing has to be untangled at year end.
More in Washington
Other Washington markets, the platforms we work in, and the functions available on their own.
AppFolio Bookkeeping for Spokane
Schedule a call and we will review your AppFolio setup, your Washington deposit handling, and what it takes to close clean every month.