Assign an Account Set to a Joint Venture Definition

Use the Account Sets application to create the account sets that you want to assign to a joint venture definition. See Create an Account Set for more information.

On the Account Information page, use the following three fields to assign account sets to the joint venture definition:

• Account Set for Distributable Accounts

  Specify an account set that you’ve set up to identify all accounts that contain transactions for the joint venture. All transactions in the accounts are eligible for distribution to joint venture partners. You can use the other account set fields to specify an account set that designates a subset of these accounts as distribution only or billable asset accounts.

• Account Set for Distribution Only Accounts (if applicable)

  Specify an account set that you’ve set up to identify a subset of distributable accounts that contain transactions that you want to process as distribution only. The Create Joint Venture Distributions process splits and creates distributions for transactions identified as Distribution Only and sets the status of the distributions to Process Complete. This indicates that the distributions can’t be processed further. They're generated for reporting purposes only and can’t be billed.

• Account Set for Billable Asset Accounts (if applicable)

  Specify an account set that you’ve set up to identify a subset of distributable asset accounts that contain transactions for billable assets. In Joint Venture Management, these transactions and their distributions are identified with a Billable Asset transaction type, which makes them eligible for billing. Transactions in asset accounts included in the account set for distributable accounts, but not included in the account set for billable asset accounts, are identified with an Asset transaction type. These transactions are set to Distribution Only and aren’t eligible for billing.

  Caution: If you don’t assign an account set for billable asset accounts to a joint venture definition, then asset accounts included in the distributable accounts account set will be identified as distributable, regardless of whether the asset accounts are billable or nonbillable.

Specify Primary Segment Values To Be Used in Combination with Account Sets

When you use an account set to identify accounts for a joint venture, you must also identify one or more primary segment values that are unique to the joint venture. The filters in an account set are used in combination with the primary segment values to identify accounts for the joint venture.

You can identify the primary segment values either before or after you set up and assign an account set to a joint venture definition.

Caution: If an account filter in the account set includes a primary segment value that doesn’t match a primary segment value in the joint venture definition, the account will be ignored.

Perform these steps to identify the primary segment values:

1. On the Account information page for the joint venture definition, click the Primary Segment Values tab.
2. Click Add, and then click in the first column in the row and select a primary segment value.

   The first column in the grid represents the primary segment associated with the primary segment label specified in the Joint Venture System Options, for example “Primary Segment: Department.”

3. Click Submit on the row you added.

4. Add additional primary segments values as needed.

5. Click Save.

   The application displays the description associated with the primary segment value.