About Identifying a Transaction Date for Processing Joint Venture Transactions

Configure the transaction date to use for processing transactions in Oracle Joint Venture Management.

To process joint venture transactions, Joint Venture Management uses the transaction date in each transaction to determine which date effective ownership definition to use to calculate the split. For the transaction date, it uses the accounting date in transactions originating from subledger accounting; it uses the effective date for transactions originating from the general ledger. However, these dates might not capture the date the transaction took place or the date the service was performed, what some companies refer to as the service date or activity date.

Instead of using the effective date and accounting date, you can set up Joint Venture Management to use another date for the transaction date.

First you need to determine another source to use for the transaction date. For subledger accounting transactions, you must create a supporting reference to identify a date to use for the transaction date. For general ledger transactions, you can use the reference date. There are also header and line level attributes that can be used by descriptive flexfields to enter a transaction date for general ledger journals.

After determining the sources for the transaction dates, you set up transaction date references in the Joint Venture System Options to reference the sources.

Even after the sources for the transaction date have been determined, it’s possible that this date could be missing from transactions identified for processing by Joint Venture Management. For example, the user entering the transaction might have entered the transaction date in the wrong field. In the Joint Venture System Options, you can determine how Joint Venture Management handles the processing of transactions without a transaction date. You can configure the system options to:

• Use the accounting date for transactions from subledger accounting and the effective date for transactions from the general ledger.
• Use the system date for the transaction date.
• Leave the transaction date blank, which sets the transaction to an error status in the Joint Venture Transactions work area. This enables you to locate the transactions in error for troubleshooting purposes.

This configuration is typically a one-time setup. However, you can modify the setup if a change in the business process or joint operating agreement requires using a different date to process joint venture transactions. Once configured, the setup applies to transactions for all your joint ventures.