Change the Status of a Joint Venture

All joint venture statuses except for Active are for information purposes only. The default status for all new joint ventures is Initiated. Changing the status to Active enables the joint venture to process transactions.

Your administrator can set up additional statuses if your business process requires it. For example, you could create a “Suspended” status to indicate that activities for the joint venture have been halted.

Note: You can’t change the status of a joint venture from Active to another status if it’s associated with an overhead method in the Active status. You must first change the overhead method to a status other than Active.

To change the status of a joint venture:

1. In the Joint Ventures work area, locate and click the name of the joint venture definition for which you want to change the status.

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

3. On Basic properties, click the Status drop-down list and change the status.

   Remember that you can’t change a definition to Active until you complete all the required fields. See What Is a Joint Venture Definition? for more information.

   If you remove a definition from the Active status, make sure that you no longer need to process transactions for the joint venture.

4. Save the joint venture definition.