Override Joint Venture Transaction Processing

In the Transactions work area, you can override settings associated with a joint venture transaction to change how the transaction is processed. You can only override transactions that haven't already been processed by the Create Joint Venture Distributions process.

Here’s what you can override:

• Transactions status

  You can change the Available to Process status to Not Distributable for transactions that you don't want to distribute and invoice at all in the future. For transactions that you want to distribute later, you can change to On Hold status. You might need to do this for any transactions that have been called into question. When you determine if and how to process the transactions, you can reset the status to Available to Process. For transactions that are in the following error statuses, you can change their status to Available to Process after you correct the errors: Missing Transaction Date, Missing Ownership, Ownership Not Effective, and Inactive Stakeholder.

  You can make additional changes to the status of these transactions:

  • Transactions from Payables that aren't fully paid and the joint venture definition is set up to not bill partners for these transactions

    See Manage Unpaid Transactions from Payables.

  • Project-related transactions when Oracle Joint Venture Management is set up to distribute transactions related to specific capital projects

    See Manage Project-Related Transactions for a Joint Venture.

• Ownership definition

  Transactions displayed in the Joint Venture Transactions work area are associated with an ownership definition, which is displayed in the Original Ownership Definition column. You can override the ownership definition with a different ownership definition. See Example of Assigning Different Ownership Definitions to Transactions for more information.

• Direct billed stakeholder

  Instead of using the ownership definition to create distributions, you can override an ownership definition with a direct billed stakeholder to apply an entire transaction amount to a stakeholder.

• Transaction date

  Multiple versions of an ownership definition with different effective dates might exist. You can change the transaction date to coincide with the effective dates of the ownership definition that you want to use to process the transaction. When the Create Joint Venture Distributions process is run, it compares the transaction date to the effective dates in the available ownership definitions to determine which one to use to create distributions for the transaction.

• Distribution only

  You can change the “Distribution Only” setting for joint venture transactions before you distribute them.

You must enter the reason for the override. The application provides an audit trail of the last changes made.

Note: You can override values in joint venture transactions using an Excel spreadsheet. Download the spreadsheet from the Joint Venture Transactions work area and follow the instructions in the spreadsheet to override the values as needed and upload your changes back to the work area. See Manage Joint Venture Data in Microsoft Excel for more information.

To override joint venture transaction processing:

1. Select the transactions you want to override:

   • Select one or more rows manually.

   • Or click the Select All check box above the first row if you want to update all transactions based on your filter criteria.

   Caution: When you use Select All, the application selects only the first 100 transactions displayed in the table.

2. Click Edit.

   The Edit Joint Venture Transactions dialog box displays the count of selected transactions.

3. On Edit Joint Venture Transactions, select the new values as appropriate.

   Note: If the records selected for updating are from different joint ventures, the Ownership Definition and Direct Billed Stakeholder fields aren’t displayed. To update these fields, you can select and update each transaction individually. Or, you can use the search and suggested filters to display joint venture transactions belonging to a specific joint venture, and then you can use the Select All check box and update all fields.

   You must complete the Change Reason field and optionally enter additional information describing the reason for updating the transaction.

4. Click Update.