Add an Internal Stakeholder

Add partners in the joint venture that are internal to the managing partner’s organization as internal stakeholders.

1. In the Joint Ventures work area, locate and click the name of the joint venture definition that you want to add an internal stakeholder to.

2. On the overview page of your joint venture definition, click Start.

3. Click Stakeholders in the navigation pane.

4. On Stakeholders, click Add.

5. On New Stakeholder, enter a name and description for the stakeholder and click Save. Alternatively, you can click Save and New to save this stakeholder and add another.

   A description is not required. If left blank and you associate an invoicing partner, the description of the invoicing partner will appear here.

6. For the Stakeholder Type, select Internal.

   The status for new stakeholders is Pending. You can’t change it to Active until after you complete the required fields under Partner Information.

7. For the Classification, select Operator if the internal stakeholder is the managing partner. Else, leave the default value Nonoperator.

8. Select a value for the Stakeholder Category. This is an optional field that contains user-defined values that your company can set up to further categorize your stakeholders if desired.

9. Select Distribution Only if the stakeholder will only participate in the transaction distribution and won't be invoiced.

   You also have the option to change this setting when you add the stakeholder to the ownership definition on the Ownership Definition page.

10. For the Invoicing Preference, select one of these options:

    • Create invoices. Create invoices for distributing costs and revenue to accounts receivable (AR) and accounts payable (AP) respectively.

    • Create journals. Enable shares of costs and revenue to be posted as journals in the managing partner’s cost center.

      If the internal stakeholder is not sharing in the joint venture costs or revenue, see Add an Interested Stakeholder.

11. If you selected “Create Invoices”, complete these fields:

    • Invoicing Partner. Select the invoicing partner from the drop-down list. The system displays contact information for the invoicing partner if available. If you don’t see the invoicing partner that you expect in the drop-down list:

      • Make sure that the invoicing partner is active.
      • Make sure that it's set up with the same business unit that’s associated with the joint venture.

    • Invoice Currency Override. Select an invoice currency override if you need to create invoices in a currency that’s different than the primary ledger currency of the joint venture business unit. If you’ve entered an invoice currency override on the invoicing partner, it will be populated in this field by default.

      Note: If you want to view recently used currencies in the drop-down list, ask your application implementation consultant to set up the ORA_OARS_ENABLED profile option with a value of “Y” for the desired profile level.

12. If you selected the option to create journals, complete these fields:

    • Cost Center. Enter the cost center for posting costs and revenue to.

    • Party. Select the party for the internal stakeholder.

      When you save your changes, the application displays additional information for the party if available.

      Note: If the party isn't in the list, it’s because the contact person associated with the party wasn’t set up with a sales account ID. Use the Accounts application for Sales to create the contact, which generates a sales account ID for the contact.

13. Under Reporting Information, specify a report template and output format to use for printing the joint interest billing report for the stakeholder. If you’ve specified a report template and output format on the invoicing partner, these will appear by default for the stakeholder. The report template must exist in the BI Publisher catalog for Joint Venture Management. The name of the predefined template for stakeholders is “Joint Interest Billing For Stakeholder.”

14. To attach a file for the stakeholder, drag the file from your local directory into the Drag and Drop field. Or click anywhere in this field, locate the file and upload it. To attach a URL, complete the URL field and click Add URL.

    For information on how to view, edit, and remove attachments, see Add Attachments.

15. Click Save to save your changes and stay on the page. Or click Save and New to save this stakeholder and add another.