Adding and Maintaining Joint Venture Assets

Most transactions on joint venture assets are performed at the Joint Venture Business Unit level. These include asset acquisitions, cost adjustments, retirements, and intrabusiness unit transfers (for example, transfers from one department, product, project, or category to another within the same business unit).

Joint venture asset transactions are executed just as they are for any non-joint venture asset with no special steps to take. However, it is recommended that you establish a naming convention to distinguish assets that are shared by a joint venture. For example, you might assign a joint venture asset an asset ID that begins with the letters JV.

Joint venture asset transactions are automatically executed at the participant level as well, with cost and depreciation information prorated based on each participant's equity percentage. Acquisition detail table entries are not prorated. Any change in the ownership allocation of joint venture assets (ownership transfers) must be performed at the joint venture participant level.