Transfer a Partner Contribution to a New Partner Contribution

Transfer the open amount of a partner contribution to create a new partner contribution.

1. In the Partner Contributions work area, click the stakeholder with the partner contribution that you want to transfer.
2. On Edit Partner Contribution, click the Actions menu and select Transfer Contribution.
3. On Transfer Partner Contribution, select New for the Transfer Type.
4. Complete the following fields to create a new partner contribution that will receive the open amount:

   • Joint Venture. Select the joint venture that you want to associate this partner contribution with. Only joint ventures in Active status are displayed in the list.

   • Stakeholder. Select the stakeholder to assign the partner contribution to.

   • Enter a start date and a description.

     If you don’t enter a start date, the current date will be used. The description is optional.

   • Status. Select On Hold status to keep the partner contribution on hold until you’re ready to draw from it, or select Available to Draw.

   • Joint Venture Partner Contribution Account. Identify the account to which the open amount will be transferred to. Click the field and select each segment value to identify the account, or use the search filters to identify the account.

   • Transaction Reason. Enter a reason for transferring the partner contribution.

     Note the value in the Transferred Amount field. This is the open amount that will be transferred. The Contribution Amount and Open Amount fields are blank and will be populated after the partner contribution is created.

   • Create Journal Entry. This is selected by default, which indicates that a journal entry must be created to complete the transfer:

     • If the account on the new partner contribution and the source partner contribution are the same, you can deselect the check box to transfer the partner contribution without recording it in a journal entry.

     • If the account on the new partner contribution is different than the account on the source partner contribution, you can’t deselect this check box. In this scenario, the transfer must be processed through a journal entry.

     See Create a Journal Entry to Process a Partner Contribution Transfer for more information.

5. Click Submit.

Results:

When you click Submit, the new partner contribution is created. If the transfer needs to be processed through a journal entry, the status of both the partner contributions is Ready to Transfer. The open amount will be transferred only after you create the transfer journal entry.

If the transfer is complete without creating a journal entry, the open amount is transferred and the status of the source partner contribution changes to Transferred.