Understanding Cash Call Closure and Refunds
You might need to close a cash call and refund the remaining amount to the partner for various reasons, such as the partner has exited from the joint venture, or the project has ended but there is cash remaining in the cash call and the partner wants a refund.
The cash call closure and refund process includes two tasks:
Request to close the cash call using the Cash Call Definition program (P09J40).
When you close a cash call, you have the option to choose whether to create a voucher or a journal entry for the refund amount.
Process the closure by creating vouchers or journal entries.
You use the Submit Close option on the Row menu of the Work with Cash Call Definition form to run the Create JV Cash Call JEs program (R09J630) or the Create JV Cash Call Vouchers program (R09J640) to create the closure journal entries or vouchers.
You can also run these programs from the standard Batch Versions program.
If you have chosen to create a voucher to close the cash call and refund the partner, you must run the R09J640 program.
If you have chosen to create a journal entry to close the cash call and refund the partner, you must run the R09J630 program.
Note:In case a refund is not needed, the money can be transferred to a new or an existing cash call.
