1. Using Joint Venture Management
  2. Validate Ownership Definition Effective Dates (Optional)

Validate Ownership Definition Effective Dates (Optional)

After joint venture transactions are identified and before you run the process to distribute them, you can run a process to validate whether the ownership definitions assigned to the transactions are effective on the transaction date. This helps ensure that joint venture transactions are associated with the correct ownership definitions for splitting the transactions during the distribution process.

The process validates joint venture transactions that are in Available to Process status and updates those with ineffective ownership definitions to Ownership Not Effective status. You must correct the issue before you can distribute the transactions. See Correcting Issues with Joint Venture Transactions and Distributions. The process also validates the transactions that were already in Ownership Not Effective status and changes them to Available to Process if the issue has been corrected.

If you skip this process, transactions with ineffective ownership definitions remain in Available to Process status. When you run the Create Joint Venture Distributions process and it encounters transactions with this issue, it can’t process them. However, it sets the status of these transactions to Ownership Not Effective.

  1. Access the Identify Joint Venture Transactions process.

  2. For the Processing Mode, select Validate Ownership Definition Effective Dates.

  3. Complete the following fields to determine the transactions to process

    • Joint Venture. Select a particular joint venture or leave this field blank if you want the process to validate the transactions for all joint ventures. Only joint ventures in Active status will be processed.

    • Ledger. Use this field only if you want the process to validate the transactions in a ledger other than the primary ledger of the joint venture. If you leave it blank, the primary ledger associated with the business unit of the joint venture will be used.

    • Period. Use this field to validate the transactions in a particular accounting period. If you leave this blank, the earliest open period for the ledger will be used.