About Invoicing Partners

When you set up a joint venture in Oracle Joint Venture Management, you add the partners in the joint venture as stakeholders. For each stakeholder that you want to invoice for their share of costs and revenue, you need to create an invoicing partner.

Setting up invoicing partners separately enables you to add the same partner as a stakeholder in multiple joint ventures.

Note: If you want to create journal entries for a stakeholder instead of invoices, you don’t need to set up an invoicing partner for the stakeholder.

You typically set up an invoicing partner for a stakeholder that’s external to the managing partner’s organization. But you can also set up an invoicing partner for a stakeholder that's internal to the organization and operates under a different cost center or primary segment value than the managing partner.

An invoicing partner includes the following details:

• A business unit

  The business unit must match the business unit that’s associated with the joint venture.

• Customer information, supplier information, or both

  The customer information is used to create invoices for distributing costs. The supplier information is used to create invoices for distributing revenue. The customer and supplier information must be from the same business unit that's associated with the invoicing partner.

• Currency override

  You have the option to include a currency override if the partner's currency is different than the managing partner's currency. This enables Joint Venture Management to create invoices in the partner’s currency.

• Billing information

  You can include information for creating joint interest billing reports. You can set up a report template and output format that can be used to create and print reports for all the stakeholders associated with an invoicing partner.

The Invoicing Partners work area provides visual indicators to alert you to invoicing partners that are missing required details. You can place your cursor over an alert to view the remaining tasks to complete for the invoicing partner.

Invoicing Partner Setup for Nonoperated Joint Ventures

If you're a partner in a joint venture that you don’t operate and you want to create payables invoices to pay the managing partner for your share of the joint venture costs, you must set up an invoicing partner for yourself and for the managing partner. See About Nonoperated Joint Ventures.