Entering Joint Venture Master Records

To enter a joint venture master record:

From the Joint Venture Management module (G09J), click Joint Venture Setup, and then Joint Venture Master.
On the Work with Joint Ventures form, search for and review existing joint ventures.
To enter a new joint venture, click Add.
On the Add Joint Venture form, complete the required Joint Venture Name field. This must be a unique value.
Optionally, complete any of the following fields:
- Joint Venture Description
- Joint Venture Status
  Select a status for the joint venture. This status is informational only and does not control any processing for the joint venture.
- Joint Venture Business Unit
  Enter a business unit that is unique to the joint venture. This business unit must not already be associated with another joint venture. When you enter a value in this field, the system automatically populates the Joint Venture Business Unit Address and Joint Venture Company fields.
  In some cases, a joint venture might consist of a single business unit. In other cases, the joint venture might include multiple business units. If multiple business units are used for the joint venture, enter the joint venture parent business unit in this field. You must not enter a business unit that is a child to another business unit.
- Managing Business Unit
  Enter the business unit that is responsible for the financial transactions for the joint venture. The managing business unit is responsible for the distribution of expenses and revenue to the partners in the joint venture. When you enter a value in this field, the system automatically populates the Managing Company field. The managing business unit is also a partner specified on the DOI records for the joint venture.
  The managing business unit that you enter must be different from the joint venture business unit; or, if a joint venture parent business unit is used, the managing business unit must be different from any of the business units under the joint venture parent business unit.
- Managing Company
  The system populates this field with the managing company that is associated with the specified managing business unit. You can enter a different managing company that uses the same currency as that of the joint venture company.
- Approval List
  Enter the name of the approval list that contains the entities that must approve the joint venture. You can only select an approval list that is not approved and that is not assigned to another joint venture. When you approve the approval list using the version of the Division of Interest/Approval List program (P09J20) that enables you to approve approval lists, the system automatically approves the joint venture and populates the Date Approved field with the date the approval list was approved.
- Assigned To
  Use this field to specify the person or entity who is responsible for this joint venture. This might be the joint venture accountant. This field is available in other joint venture programs to facilitate searching for joint ventures that a specific person is responsible for.
- Invoice Minimum Amount (Release 9.2 Update)
  Use this field to specify a minimum amount for creating invoices for the joint venture. For example, if you enter 100 in this field, the system will not generate invoices for the joint venture for any amounts below 100. When the cumulative total for a partner reaches 100, the system generates invoices as necessary. This value represents the default minimum amount for the joint venture and can be overridden on the legal entity.
  The invoice minimum amount is in the managing company's currency and is applicable to all partners in the joint venture.
- Voucher Minimum Amount (Release 9.2 Update)
  Use this field to specify a minimum amount for creating vouchers for the joint venture. For example, if you enter 100 in this field, the system will not generate vouchers for the joint venture for any amounts below 100. When the cumulative total for a partner reaches 100, the system generates vouchers as necessary. This value represents the default minimum amount for the joint venture and can be overridden on the legal entity.
  The voucher minimum amount is in the managing company's currency and is applicable to all partners in the joint venture.
- Inception Date (Release 9.2 Update)
  Use this field to specify the inception date of the Joint Venture.
- G/L Offset Code (Release 9.2 Update)
  Enter a code that determines the account the system uses when creating joint venture transactions for cash calls. The system concatenates the value that you enter to the AAI item JVC (Partner Contributions Account), JVA (Agreement Default Charge Account), and JVJ (Journal Entry Offset Account) to locate the account.
  For example, if you enter WL1, the system searches for the AAI item JVCWL1, JVAWL1, or JVJWL1, as needed. You must, however, set up the corresponding AAI item for the system to use; otherwise, the system ignores the G/L offset and uses the account that is set up for JVC, JVA, or JVJ for the company specified.
- Cash Call by Subledger (Release 9.2 Update)
  Select this check box to create journal entries for the partner contributions account by subledger. The system uses the partner' s address book number as the subledger with a subledger type of A (Address Book). If the partner is an inside partner, the address book number of the partner's business unit is used as the subledger.
- On the Overhead section of the Edit Joint Venture form, select the following options as required:
  - Calculate Overhead
    Select this option to calculate overhead for the joint venture.
  - Allow Negative Overhead
    Select this option to allow negative overhead for the joint venture.
    Note: The negative overhead option is enabled only when the Calculate Overhead option is selected.
- Category Code 1 through Category Code 10
  Use these fields to enter user-defined information that is required for your organization's joint ventures. Values for these fields are stored in UDC tables (09J/C1) through (09J/C0).
Click OK to save your joint venture master.