This guide explains how to set up and configure Furniture, Fixtures & Equipment (FF&E) in Owner Accounting so that FF&E amounts are recorded correctly and distributed to the FF&E tab in the Owner Account.

Overview

Furniture, Fixtures & Equipment (FF&E) lets a property set aside funds from owner income for the repair, replacement and improvement of items within an owner's unit. When FF&E is configured in Owner Accounting, expenses posted with the FF&E sundry charge are held against the FF&E balance and distributed to the FF&E tab in the Owner Account, ready to fund third-party payments.

Setting up FF&E has four parts: enable the FF&E setting in Owner Accounting Options, create an FF&E General Ledger (GL) code, create an FF&E sundry charge, then post FF&E expenses during the End of Month process.

Prerequisites

Before configuring FF&E, make sure that:

• Owner Accounting is enabled for the property.
• The required Owner Account has been created.
• Your user has permission to perform accounting configuration.

Step 1 - Enable FF&E in Owner Accounting

Go to Setup > Accounting > Owner Accounting Options.

1. Select the Enterprise Database (If Applicable)
2. Select the Owner Accounting tab.
3. Tick Use FF&E Account.
4. Save and Exit your changes.
   

FF&E functionality is now enabled for Owner Accounting.

Step 2 - Create the FF&E GL Code

Go to Setup > Accounting > GL Acc Codes.

1. Create a new GL Acc Code named FF&E.
2. Save and Exit the GL code.
   

Step 3 - Create the FF&E Sundry Charge

Go to Setup > Accounting > Sundry.

1. Create a sundry charge named FF&E and set its GL Code to the FF&E GL code from Step 2.
2. Open the sundry and select the Owner Accounting tab.
3. Tick the FF&E checkbox.
4. Save the sundry charge.
   
    

Step 4 - Post the End of Month FF&E Expense

During the End of Month process, create the FF&E expense under Owner Accounting > End Of Month > EOM Expenses.

1. Create or edit the EOM expense.
2. Set the Sundry to the FF&E sundry charge.
3. Complete the posting as normal.
   

Expected Result

When the configuration is complete, FF&E amounts are disbursed from each booking to the FF&E tab in the Owner Account.

Third-party payments can then be paid from the FF&E income held in the Owner Account. In Owner Accounting > 3rd Party Payments, select Pay 3rd Parties on FF&E Income.

 

Troubleshooting

If FF&E amounts are not appearing on the FF&E tab, check that:

• Use FF&E Account is enabled in Owner Accounting Options.
• A GL code named exactly FF&E exists.
• The FF&E sundry charge has the FF&E checkbox selected on the Owner Accounting tab and is linked to the FF&E GL code.
• The End of Month expense was created using the FF&E sundry charge.
• The transaction was posted successfully.

Summary

To configure FF&E for Owner Accounting:

1. Enable Use FF&E Account in Owner Accounting Options.
2. Create a GL code named FF&E.
3. Create an FF&E sundry charge linked to the FF&E GL code, with the FF&E checkbox selected on the Owner Accounting tab.
4. Post End of Month FF&E expenses using the FF&E sundry charge.
5. Confirm the FF&E amounts appear on the FF&E tab of the Owner Account, ready to fund third-party payments.

Related Articles

• End of Month Preparations - Owner Accounting
• Owner Income Sundry
• Owner Accounting Pre-End of Month Processing