FAQs When Creating Joint Venture Invoices

I've invoiced the partners for a joint venture transaction. Why has this transaction circled back into Oracle Joint Venture Management and invoiced again?

Check if you've used a distributable account as the partner account to create your joint venture invoices. For receivables invoices, partner accounts are written in the Revenue accounting class and for payables invoices, these accounts are written in the Item Expense accounting class. Accounts set up as distributable for your joint venture will pull in corresponding cost and revenue transactions into Joint Venture Management regardless of whether a transaction was already processed and invoiced to partners.

To prevent invoice and journal transactions generated for joint venture distributions from being identified and processed by Joint Venture Management again, you must perform one of these configurations:

• Enable the "Exclude joint venture transactions" option in your joint venture definition.

  See Exclude Joint Venture Invoices and Journals from Oracle Joint Venture Management Processing for more information.

• Override a segment of the partner account with an account that isn't identified as distributable in your joint venture definition.

  For more information, see Set Up Partner Accounts for Joint Venture Receivables Invoices and Set Up Partner Accounts for Joint Venture Payables Invoices.

Why can't I create invoices for joint venture distributions that originated from transactions with Liability account type?

You can create invoices only for joint venture distributions that originated from transactions of account type Assets, Expense, and Revenue. The "Identify Joint Venture Transactions" process marks the transactions of other account types (for example, Liability) as "Distribution Only" when these are identified as joint venture transactions. The distributions created from these transactions are marked as "Distribution Only" and can't be invoiced.

Can I manually override accounts for joint venture invoices in Receivables or Payables?

You shouldn't override accounts for joint venture invoices in Receivables or Payables. If you do, the account overrides won’t be reflected in the joint venture distributions.

If you’ve used incorrect accounts to create invoices and your invoices aren’t posted yet, you can set up subledger accounting rules to override the accounts during posting. If you’ve posted your invoices, you must perform the joint venture reversal process to cancel the invoices through credit memos or debit memos. You can then update the accounts in your joint venture definition and process the transactions to create joint venture invoices using the correct accounts. See Distribution Reversal Methods.

After running the Create Joint Venture Invoices and Journal Entries process, why weren't invoices created for some of the distributions?

This might be due to incomplete or incorrect setup required to create invoices. After taking corrective action, you can rerun the process to create invoices again. See Correcting Issues with Creating Joint Venture Invoices for more information.

The AutoInvoice process ended in error and didn't create credit memos for receivables invoices. It issued this error message “You can't provide an account assignment for credit memo transactions when the AR: Use Invoice Accounting for Credit Memos profile option is set to Yes.” What can I do to fix this issue?

Check if your application implementation consultant has set up this profile option with at least one profile value: AR_USE_INV_ACCT_FOR_CM_FLAG. The AutoInvoice process fails to create credit memos if this profile option isn’t set up. For more information, see Set Up Profile Option to Create Receivables Credit Memos.