1. Implementing Joint Venture Management
  2. Override the Receivable Account Using Subledger Accounting Rules

Override the Receivable Account Using Subledger Accounting Rules

You might need to override the default receivable account derived from AutoAccounting rules. Based on your business needs, you can set up an account override using subledger accounting rules or on the joint venture definition for each joint venture.

Note: If you set up an account override in both the joint venture definition and subledger accounting rules, the account specified in the subledger accounting rules will be used for the joint venture receivables invoice.

To use subledger accounting rules to override the receivable account, you need to set up mapping sets, account rules, journal entry rule sets, and accounting method. You use mapping sets to map a combination of input values to specific output values. To derive a receivable account for your joint venture, you can use the Cross Reference field on the invoice as the input source in your mapping set. This field records the joint venture name in the invoice header. Then, you can map the joint venture to a receivable account.

  1. Navigate to Setup and Maintenance and select the Receivables functional area under the Financials offering.
  2. Select Show – All Tasks and then click the Manage Mapping Sets task.
  3. Click Create.
  4. Complete the following fields in the header area:
    • Name.
    • Short Name.
    • Output Type. Select Segment.
    • Description.
  5. On Input Sources, click Add (+ icon).
  6. On Search and Select Input Sources, enter details for the following search criteria:
    • Subledger Application. Select Receivables from the drop-down list.
    • Event Class. Enter Invoice from the drop-down list.
    • Source. Search for and select Transaction Cross Reference as the input source.
  7. On Chart of Accounts, enter the chart of accounts of the primary ledger for the joint venture.
  8. On <your chart of accounts name>: Mappings, click Add (+ icon) to add a row to map the transaction cross reference from a joint venture to a receivable account, as shown in the following example: This image shows the Edit Mapping Set page of a mapping set where the transaction cross reference is used as an input source to map joint venture "ALBERTA" with the receivable account "11-3013-56552-11-0001.
    After creating the mapping set, you assign it to an account rule. The account rule is then added to a journal entry rule set for the event "Invoice" and journal line "Invoice Revenue." You then assign the journal entry rule set to an accounting method.
    For information on how to set up an account override at the joint venture level, see Specify a Receivable Account for Joint Venture Receivables Invoices.