Is Your Security Deposit Interest Setup and Posting Correctly?

Security deposit interest is one of those accounting details that often gets missed, until it causes problems. If your setup isn’t configured correctly, you risk compliance issues, inaccurate balances, and time-consuming manual corrections. 

Every state has its own rules on how security deposit interest should be calculated and posted, and when these rules aren’t automated in your system, it can lead to inconsistencies that impact both your financial reporting and tenant relationships. 

At imkore, we help property management and accounting teams streamline their accounting workflows, including security deposit interest setup and posting. From ensuring the right rates and schedules are applied to verifying postings across portfolios, our experts can help you stay compliant and accurate. 

If your security deposit interest process isn’t automated or you’re unsure it’s working as it should, let’s take a look. Sometimes a quick review and configuration can make all the difference in your month-end close. 

Let us handle your security deposit interest setup and posting. Contact us at info@imkore.com.