Prerequisites for Joint Venture Processing

Joint Venture Processing requires setup steps that you need to follow to use this feature. These steps must be completed in the correct order so that subsequent options are available for selection.

To set up joint venture processing:

1. Select Set Up Financials/Supply Chain > Install > Installation Options > Asset Management and select the Joint Venture Processing check box on the Installation Options - Asset Management page.

2. Select Set Up Financials/Supply Chain > Business Unit Related > Assets > Asset Management Definition and define at least one Joint Venture Business Unit on the PeopleSoft AM Business Unit Definition page.

   The option to define a Joint Venture Business Unit is active only if you enabled Joint Venture Processing in step 1.

3. Create one business unit for each participant in the joint venture relationship to establish Joint Venture Processing.

   These are standard business units and there are no additional steps to perform. Profiles for joint venture participant business units must have the same Profile ID as the joint venture business unit.

4. Associate the Joint Venture Participants with a particular Joint Venture Business Unit and define the percentage of asset ownership allocated to each participant to complete the last step in establishing Joint Venture Processing.

   Do this by setting up a Joint Venture Allocation table for each Joint Venture Business Unit.