Understanding Joint Venture Master Records
You use the Joint Venture Master program (P09J30) to create joint venture master records. The joint venture master record identifies the attributes of the joint venture such as the name, description, and status. The record also identifies who the managing company, joint venture business unit and company, and the managing partner's business unit (managing business unit) are. In order to process transactions properly, the currency for the managing company and the joint venture company must be the same.
You can also specify an approval list that can be used to approve the joint venture. An approval list that is specified on a joint venture cannot be used on another joint venture. When all of the entities on the approval list have approved the joint venture, and the approval list is approved, the system automatically marks the joint venture as Approved and displays the date when the approval list was approved.
For a joint venture that is attached to an approval list, you can access the Division of Interest/Approval List program (P09J20) for approval list from the P09J30 program. The P09J20 program has two versions for approval list - one for creating and updating the approval list, and the other for creating, updating, and approving the approval list. You set up the approval list version that you want to access in the processing option for the P09J30 program. If you set up the processing option to access the version that enables you to approve the approval list, you can update the approval list as needed and approve the approval list when you create or update the joint venture. The system sets the joint venture as approved and populates the approved date of the joint venture in the P09J30 program.
See Setting Up Approval Lists for Joint Ventures.
You can also specify the person assigned to the joint venture, and you can use up to 10 category code fields to enter additional information about the joint venture.
Additionally, you can specify a minimum amount to use when generating vouchers and invoices for the joint venture. The invoice and voucher minimum amount that you specify for the joint venture is in the managing company's currency and is applicable to all partners in the joint venture. For example, if you specify 100 as the minimum amount and the currency of the managing company is USD, no invoices or vouchers are created for any of the partners associated with the joint venture until the invoice or voucher amount reaches 100 USD or more. This is the default minimum amount for the joint venture, and the value can be overridden on each partner's legal entity record.
You can use the media object attachment feature to save and attach documents or files that are relevant to the joint venture.
Joint Venture Master Setup to Calculate Overhead
You can specify whether to calculate overhead costs for the joint venture, whether to allow negative overhead (caused by adjustments from previous period), and the inception date for the joint venture.
You can set up this information at the business unit level to override the information entered at the joint venture level in the joint venture master.
See Understanding Joint Venture Business Unit Attributes
Joint Venture Master Setup to Process Cash Calls
You can set up a G/L offset code at the joint venture level. The G/L offset code will be used in conjunction with the cash call AAIs when determining the account to use for cash call transactions. For example, if you are the managing partner of multiple joint ventures all under the same company, you can use the G/L offset to distinguish between joint ventures when determining which account to use for your cash call transactions.
Also, you can set up the system to use the subledger for the cash call accounts when you create journal entries for joint venture cash calls. The system uses the subledger type A (Address Book). For an outside partner, the partner's address book number is used. For an inside partner, the address book number for the partner's business unit is used.
Access to Other Joint Venture Programs
The Row menu of the program also provides access to the following information for a joint venture:
The joint venture distribution summary by partner information in the JV Distribution Summary by Partner program (P09J12B)
The operational status of the joint venture in the Joint Venture Operational Status program (P09J70)
The approval list for the joint venture in the Division of Interest/Approval List program (P09J20) if the joint venture is attached to an approval list
Joint Venture Master records are stored in the Joint Venture Master table (F09J30).