Correcting Issues with Joint Venture Transactions and Distributions

To resolve any issues or disputes, you can delete joint venture distributions and remove their associated joint venture transactions from the Distributions and Transactions work areas respectively. You can then update the joint venture definition to correct the issue.

For example, you might need to add a new stakeholder or adjust the stakeholder percentages in the ownership definition, or identify another account that contains transactions to distribute. After revising the joint venture definition, you can rerun the Oracle Joint Venture Management processes to identify and distribute the transactions again.

This section describes some of the different types of issues you might encounter and the general process for resolving them.

Distributions with Incorrect Amounts

To resolve distributions with incorrect amounts:

In the Joint Venture Distributions work area, delete the distributions created for the transaction.

Deleting distributions automatically resets the status of the associated transaction from Process Complete to Available to Process in the Joint Venture Transactions work area.
In the Joint Venture Transactions work area, locate the transaction and change the status to On Hold so the scheduled Create Joint Venture Distributions process doesn’t process the transaction again.
Identify the ownership definition that's associated with it and verify that the ownership percentages are correct.
If a different version of the ownership definition exists that contains the correct ownership percentages, you can override the transaction date in the transaction by entering a date that aligns with the effective dates in the appropriate ownership definition version.
If there isn't an ownership definition with correct ownership percentages, you've two possible actions:
- In the joint venture definition, correct the ownership percentages in the ownership definition that was used to calculate the split.
  
  Note: The application prevents you from updating an ownership definition if distributions exist that were generated using the ownership definition.
- In the joint venture definition, create a new ownership definition with the proper ownership percentages. It could be that there was a change to the joint operating agreement that calls for a change in the split calculation for transactions from a particular account, which includes the transaction in dispute. You can create a new ownership definition to adjust for this change.
Access the Joint Ventures work area, and open the joint venture definition.
Either update the existing ownership definition with the correct percentages or create a new ownership definition with a different breakdown of ownership percentages.
If you created a new ownership definition, in the Joint Venture Transactions work area, override the transaction with the new ownership definition.
Change the status of the transaction to Available to Process.
Manually run the Create Joint Venture Distributions process, or wait for it to run on its schedule, to generate distributions for the transaction again.

Transaction Split When Entire Transaction Amount Should Be Applied to a Direct Billed Stakeholder

A transaction should have been distributed to a direct billed stakeholder but instead was mistakenly split and distributed among stakeholders. To correct this issue, you need to:

In the Joint Venture Distributions work area, delete the distributions created for the transaction.

This resets the status of the associated transaction from Process Complete to Available to Process in the Joint Venture Transactions work area.
In the Joint Venture Transactions work area, locate the transaction and change the status to On Hold so the scheduled Create Joint Venture Distributions process doesn’t process the transaction again.
Override the ownership definition with the direct billed stakeholder.
Reset the status to Available to Process.
Manually run the Create Joint Venture Distributions process, or wait for it to run on its schedule to create a distribution for the stakeholder that contains the entire transaction amount.

Incorrectly Identified Transactions

Distributions have been generated for transactions that aren't associated with a joint venture. In this case, it's likely that the wrong account has been identified as distributable in the joint venture definition. To correct this issue, you need to:

Suspend the joint venture definition so that it stops processing transactions from the wrong account. In the Joint Ventures work area, open the joint venture and change its status to a user defined status such as On Hold or Suspended.
In the Joint Venture Distributions work area, delete distributions generated from the incorrectly identified transactions.
Remove the transactions from the Joint Venture Transactions work area.
In the Joint Ventures work area, in the joint venture definition, remove the information used to identify the incorrect distributable account.
Reset the status of the joint venture definition to Active.

Transactions with No Transaction Date

Transactions that don't have a transaction date have a status of Missing Transaction Date and can't be distributed.

It's possible that the Identify Joint Venture Transactions process can't retrieve the transaction date due to the following setup issues in the Joint Venture System Options:

The specified transaction date references aren’t valid sources for the transaction date.

Or the specified transaction date references are valid but the transaction date is missing in the source.
The transaction date defaults are set up with “No Date”, which means a default date won’t be assigned to the transactions even when the transaction date can’t be derived using the references.

To correct this issue, perform the following steps:

In the Joint Venture Transactions work area, select the transaction and click Edit.

Or click Manage in Excel and use the spreadsheet to edit multiple transactions.
On Edit Joint Venture Transactions, complete the following fields and click Update:
- Transaction Date. Make sure that the transaction date you enter is within the effective dates of the assigned ownership definition.
- Transaction Status. Change it to Available to Process.
- Change Reason. Select a reason for updating the transaction.
Or you can follow this approach:
1. Remove the transactions from the Joint Venture Transactions work area.
2. Ask your administrator to correct any setup issues in the following fields of the Joint Venture System Options:
  - Transaction Date References
  - Transaction Date Defaults
3. Rerun the Identify Joint Venture Transactions process.
This will also help prevent this issue from occurring when processing transactions in the future.

Transactions Not Identified or Transactions Split Incorrectly

If the source of the transaction date is a free-form text field, the user must enter the transaction date in this format: YYYY/MM/DD. If this format isn't used, then unpredictable results will be encountered when running the Identify Joint Venture Transactions process. The process could result in errors, transactions might not be processed, or in some cases, the transaction date could be mapped incorrectly, resulting in the transaction being split using the wrong ownership definition.

Project-Related Transactions Without Project Information

Project-related transactions that don’t have project information have a status of Reference Not Valid and can't be distributed.

This can be due to the following reasons:

Incorrect setup of supporting references to capture project details in Oracle Financials.
Incorrect supporting references specified in the Project References fields in the Joint Venture System Options.

To correct this issue, ask your administrator to correct any issues in the supporting reference setup in Oracle Financials, and to specify the correct attributes in the Project References fields in the Joint Venture System Options. Then, remove the transactions from the Joint Venture Transactions work area and rerun the Identify Joint Venture Transactions process.

Transactions with Ineffective Ownership Definitions

The ownership definition assigned to a transaction isn’t effective on the transaction date and so, the transaction can’t be distributed. The transaction is in Ownership Not Effective status.

Depending on your scenario, you can correct the issue using one of the following approaches:

Manually change the transaction date to coincide with the effective dates of the assigned ownership definition.
Override the ownership definition on the transaction with an ownership definition that has the correct effective dates.

To manually change the transaction date, perform the following steps:

In the Joint Venture Transactions work area, select the transaction and click Edit.

Or click Manage in Excel and use the spreadsheet to edit multiple transactions.
On Edit Joint Venture Transactions, specify a transaction date that falls within the ownership definition effective dates. Then, change the transaction status to Available to Process.
Specify a change reason and click Update

To override the assigned ownership definition, perform the following steps:

In the Joint Ventures work area, open the joint venture definition and identify the ownership definition with the correct effective dates. Remember the name of the ownership definition.
In the Joint Venture Transactions work area, select the transaction and click Edit.

Or click Manage in Excel and use the spreadsheet to edit multiple transactions.
On Edit Joint Venture Transactions, override the assigned ownership definition with the ownership definition that you identified. Then, change the transaction status to Available to Process, select a reason code, and click Update
If there isn't an ownership definition with correct effective dates, you've two possible actions:
- In the joint venture definition, update the effective dates of the ownership definition to cover the transaction dates.
  
  Note: You can’t update an ownership definition if distributions exist that were generated using the ownership definition.
- In the joint venture definition, create a new ownership definition with the correct effective dates.
If you created a new ownership definition, perform any of the following actions to assign the ownership definition to the transaction:
- In the Joint Venture Transactions work area, select the transaction and click Edit. Then, override the assigned ownership definition with the new ownership definition. Change the transaction status to Available to Process, select a reason code, and click Update.
- Run the Create Joint Venture Distributions process in the default mode. The process automatically uses the new ownership definition to create the distributions and sets the transaction status to Process Complete.

Transactions with Missing Ownership Definitions

Transactions that aren’t assigned an ownership definition have a status of Missing Ownership and can't be distributed. This is because there’s no default ownership definition specified for the joint venture or no ownership definition was assigned from ownership definition assignment rules.

To correct the issue, perform the following steps:

In the Joint Ventures work area, open the joint venture definition and identify the ownership definition with effective dates that can cover the transactions. Remember the name of the ownership definition.
In the Joint Venture Transactions work area, select the transaction and click Edit.

Or click Manage in Excel and use the spreadsheet to edit multiple transactions.
On Edit Joint Venture Transactions, select the ownership definition that you identified. Then, change the transaction status to Available to Process, select a reason code, and click Update.
If there isn't an ownership definition with correct effective dates, you've two possible actions:
- In the joint venture definition, update the effective dates of the ownership definition to cover the transaction dates.
  
  Note: You can’t update an ownership definition if distributions exist that were generated using the ownership definition.
- In the joint venture definition, create a new ownership definition with the correct effective dates.
If you created a new ownership definition, perform any of the following actions to assign the ownership definition to the transaction:
- In the Joint Venture Transactions work area, select the transaction and click Edit. Then, select the ownership definition, change the transaction status to Available to Process, select a reason code, and click Update.
- Run the Create Joint Venture Distributions process in the default mode. The process automatically uses the new ownership definition to create the distributions and sets the transaction status to Process Complete.

Transactions with Inactive Stakeholder

Transactions that are associated with an inactive direct billed stakeholder have a status of Inactive Stakeholder and can't be distributed. This is because the transaction was assigned to an active direct billed stakeholder when it was identified, but the stakeholder was made inactive before you ran the Create Joint Venture Distributions process.

To correct the issue, perform the following steps:

In the Joint Ventures work area, locate the stakeholder that’s inactive.
On Edit Stakeholder, change the status of the stakeholder to Active and Click Save.

Or if you need to override the stakeholder with a different stakeholder that’s active, identify the stakeholder.
In the Joint Venture Transactions work area, select the transaction and click Edit.

Or click Manage in Excel and use the spreadsheet to edit multiple transactions.
On Edit Joint Venture Transactions, override the stakeholder (if you need to), change the transaction status to Available to Process, select a reason code, and click Update.
Run the Create Joint Venture Distributions process to create distributions from the transaction.