Manage Unpaid Transactions from Payables

The Identify Joint Venture Transactions default mode assigns Awaiting Payment as the initial status to transactions that originate from Payables if these conditions are met:

  • The Bill When Paid option is selected for the joint venture in the definition.

  • The original transactions are unpaid or partially paid.

Transactions in this status are excluded from the joint venture distributions process. To include them in the distributions process after they're paid, you run the Identify Joint Venture Transactions process in this mode: Update Joint Venture Transaction Status for Paid Transactions. This mode updates the status of eligible transactions to Available to Process. Or instead of running this process, you can manually update the transaction status to Available to Process in the Joint Venture Transactions work area.

When transactions from Payables are no longer required to be paid before billing them to partners, you deselect the Bill When the Paid option in the joint venture definition. With this option deselected, the “Update Joint Venture Transaction Status for Paid Transactions” mode can't be used to update the status. If there are transactions at Awaiting Payment status, you must manually update them to Available to Process.

If there are unpaid transactions in error, you must correct the error and then change the transaction status to Awaiting Payment. For information on how to correct errors in transactions, see Correcting Issues with Joint Venture Transactions and Distributions.

Caution: Make sure that you pay the full amount for the transactions before you manually update the joint venture transaction status to Available to Process. Also, make sure that you process all unprocessed transactions to Process Complete status before selecting or deselecting the Bill When Paid option.