Update the General Ledger Reference for Posted Payables Invoices

After invoices are posted to the General Ledger, run this process to store the information for retrieving the partner and liability accounts for invoiced joint venture distributions: Create Joint Venture Invoices and Journal Entries - Update GL Reference in Joint Venture Distributions.

The process stores different information for the accounts:

• For the partner account, it stores a reference information from Payables, which then derives the account combination identifier of the partner account from the General Ledger.

• For the liability account, it stores the account combination identifier of the liability account from the General Ledger.

The process includes an option that enables you to store the information for only the partner account or both the liability account and partner account. Remember that the partner account is recorded in the Item Expense accounting class on each invoice line. By default, the process is set up to store the information to retrieve only the partner account.

Note: To ease your monthly billing, Oracle recommends that you run the process with the default setup to store the information for only the partner account. After you complete your monthly billing, you must configure the setup to store the information for the receivable account to avoid data backlog.

After both the accounts are updated in the invoiced distributions, the distributions are considered as accounted in Joint Venture Management and are available for reporting.

Run the Process to Update the General Ledger Reference for Posted Payables Invoices

Joint venture accountants can run this process. If Data Security for Joint Venture Management is enabled, you can run the process for the joint ventures that are associated with the business units you are authorized to manage.

The process selects only those payables joint venture invoices that are posted.

1. From the Home page, select Joint Venture Management, and then select Create Joint Venture Invoices and Journal Entries from the Quick Actions list.

2. For the Processing Mode, select Update GL Reference in Joint Venture Distributions.

3. For the Source, select Payables.

4. In the Basic Options section, you can specify values in the following fields to filter invoiced distributions to process:

   • Business Unit. Select a particular business unit or leave it blank to process invoiced distributions for all the joint ventures associated with the business unit.

   • Joint Venture. Select a particular joint venture or leave it blank to process invoiced distributions for all your joint ventures. The process selects only those joint ventures at an Active status.

     If data security is enabled, the drop-down lists display only the business units and the associated joint ventures you are authorized to manage. If you leave these fields blank, the process stores the GL reference for only the business units you can manage.

   • From Date.

   • To Date.

     You can use a transaction date range to select invoiced distributions to process.

   • Invoicing Partner. Select a particular invoicing partner or leave it blank to process invoiced distributions for all the invoicing partners included in your joint ventures.

   • Update Receivables and Liability Accounts. Select “Yes” to store the information for retrieving the liability account and partner account from the General Ledger for each selected distribution.

     If you select “No”, the process will only store the information for retrieving the partner account.

     Note: To ease your monthly billing, Oracle recommends that you use the default value “No” for this field to avoid storing the information for retrieving the liability account for posted payables invoices. After your monthly billing is complete, you should select “Yes” and rerun the process to store the information for the liability account in the distributions to avoid data backlog.

5. Click Submit.