Transfer the open amount of a partner contribution to create a new partner
contribution.
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In the Partner Contributions work area, click the stakeholder with the partner
contribution that you want to transfer.
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On Edit Partner Contribution, click the Actions menu and select Transfer
Contribution.
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On Transfer Partner Contribution, select New for the Transfer Type.
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Complete the following fields to create a new partner contribution that will
receive the open amount:
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Joint Venture. Select the joint venture that you want to associate
this partner contribution with. Only joint ventures in Active status
are displayed in the list.
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Stakeholder. Select the stakeholder to assign the partner
contribution to.
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Enter a start date and a description.
If you don’t enter a start date, the current date will be used. The
description is optional.
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Status. Select On Hold status to keep the partner contribution on
hold until you’re ready to draw from it, or select Available to
Draw.
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Joint Venture Partner Contribution Account. Identify the account to
which the open amount will be transferred to. Click the field and
select each segment value to identify the account, or use the search
filters to identify the account.
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Transaction Reason. Enter a reason for transferring the partner
contribution.
Note the value in the Transferred Amount field. This is the open
amount that will be transferred. The Contribution Amount and Open
Amount fields are blank and will be populated after the partner
contribution is created.
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Create Journal Entry. This is selected by default, which indicates
that a journal entry must be created to complete the transfer:
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If the account on the new partner contribution and the source
partner contribution are the same, you can deselect the
check box to transfer the partner contribution without
recording it in a journal entry.
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If the account on the new partner contribution is different
than the account on the source partner contribution, you
can’t deselect this check box. In this scenario, the
transfer must be processed through a journal entry.
See Create a Journal Entry to Process a Partner Contribution Transfer for more information.
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Click Submit.
Results:
When you click Submit, the new partner contribution is created. If the transfer needs
to be processed through a journal entry, the status of both the partner
contributions is Ready to Transfer. The open amount will be transferred only after
you create the transfer journal entry.
If the transfer is complete without creating a journal entry, the open amount is
transferred and the status of the source partner contribution changes to
Transferred.