Manage Unpaid Transactions from Payables
The Identify Joint Venture Transactions default mode assigns Awaiting Payment as the initial status to transactions that originate from Payables if:
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The original transactions are unpaid or partially paid.
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The Bill When Paid option is selected for the joint venture in the definition.
Transactions at this status are excluded from the joint venture distributions process. To include them in the distributions process after they're paid, you run the Identify Joint Venture Transactions process in this mode: Update Joint Venture Transaction Status for Paid Transactions. This mode updates the status of eligible transactions to Available to Process.
Or you can manually update the transaction status in the Joint Venture Transactions work area. You might need to do this when transactions from Payables are no longer required to be paid before billing them to partners. In which case, you will deselect the Bill When the Paid option in the joint venture definition. With this option deselected, the “Update Joint Venture Transaction Status for Paid Transactions” mode can't be used to update the status. If there are transactions at “Awaiting payment” status, you must manually update them to Available to Process.
Caution: Make sure that you pay the full amount for the transactions before you manually update the joint venture transaction status to Available to Process. Also, make sure that you process all unprocessed transactions to Process Complete status before selecting or deselecting the Bill When Paid option.
You can make the following status changes from and to Awaiting Payment.
From Status | To Status |
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Awaiting Payment | Available to Process |
Awaiting Payment | On Hold |
Awaiting Payment | Not Distributable |
Available to Process | Awaiting Payment |
On Hold | Awaiting Payment |
Not Distributable | Awaiting Payment |
Error | Awaiting Payment |