1. Using Joint Venture Management
  2. Update Transaction Status for Paid Transactions

Update Transaction Status for Paid Transactions

Perform this task only if you're processing joint venture definitions that are set up with the Bill When Paid option enabled. When this option is enabled, the joint venture’s expense transactions can’t be distributed or billed to partners until they’re paid.

Note: This option is applicable only to expenses recognized in Payables.

When you run the Identify Joint Venture Transactions process over joint ventures configured with this option, the process assigns the Awaiting Payment status to all unpaid and partially paid transactions displayed in the Joint Venture Transactions work area. Transactions in this status are excluded from the Create Joint Venture Distributions process. After the transactions are paid, you must run the process to change their status from Awaiting Payment to Available to Process so that they're eligible for distribution and billing.

To run this process, follow these steps:

  1. From the Home page, select Joint Venture Management, and then from the Quick Actions list, select Identify Joint Venture Transactions.

  2. For the Processing Mode, select Update Joint Venture Transaction Status for Paid Transactions.

  3. Complete the following fields to select the transactions to process:

    • Legal Entity. Use this field to identify transactions for joint ventures that are associated with a particular legal entity. Leave it blank to run the process over all your joint ventures.

      Caution: The drop-down list includes all legal entities that are associated with joint ventures; this can include legal entities that you don't have access to. If you select a legal entity that you don’t have access to, no records will be processed.

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

      If you selected a legal entity, the drop-down list includes only the joint ventures associated with the legal entity. Click Select More…to select multiple joint ventures for processing.

      Note: If you need to select a legal entity or change the one you selected, you must first clear the joint venture selections.

    • Transaction from Date.

    • Transaction to Date.

      Enter a transaction date range to select the transactions to process.

  4. Click Submit.

  5. Back on the Scheduled Processes Overview page, you can view the submitted process and its status. Click the process in the table to view additional details about it.