1. Using Joint Venture Management
  2. Update an Ownership Definition

Update an Ownership Definition

The updates you can make to an ownership definition depend on its status and whether it has already been used to calculate the split of transactions. An ownership definition can be set to one of these statuses:

  • Pending. The initial status when you create an ownership definition.

  • Active. Enables the joint venture to use the ownership definition to process transactions.

  • Inactive. Use this status when you no longer want the joint venture to use the ownership definition to process transactions.

Update an Ownership Definition in Pending Status

This is the default status when you create an ownership definition. You can change any of the details in an ownership definition in this status. Or you can delete an ownership definition in this status if you determine it isn’t needed.

Update an Ownership Definition in Active Status

This status enables the joint venture to use the ownership definition to calculate the split of transactions.

If an ownership definition in Active status hasn't been used to process transactions, you can still change its description, status, effective dates, and stakeholder information. You can also delete it unless it's been associated with an overhead method for the joint venture.

For data integrity purposes, Oracle Joint Venture Management limits the changes you can make to an ownership definition that's been used to process transactions:

  • You can't delete it.

  • You can't change stakeholders or their ownership percentages, but you can change the Distribution Only setting for a stakeholder.

  • You can modify the effective dates. The system compares the transaction date in transactions to the effective dates in the ownership definitions to determine which ownership definition to use to calculate the split. The transaction date is also included in distribution records generated from the split. If the modified dates are not inclusive of transactions dates in existing distribution records, the system triggers the reversal and rebill process. Distributions associated with the ownership definition but no longer fall within the updated effective date range will need to be reversed and reprocessed with a different ownership definition.

    See Distribution Reversal Methods for more information.

Update an Ownership Definition in Inactive Status: Not Allowed

The Inactive status is used when you no longer want a joint venture to process transactions with the ownership definition. Because an ownership definition contains the ownership percentages of stakeholders, for auditing and tracking purposes, you can’t change any details of an ownership definition in this status. And you can’t delete it or change it to Active status again.