Before You Set Up Stakeholders

If you plan to create invoices for a stakeholder, you must first set up an invoicing partner to associate with the stakeholder. See About Invoicing Partners for more information.

If you plan to create journals for a stakeholder, an application implementation consultant must complete the following tasks:

• Set up a cost center to assign to the stakeholder.
• Set up an address for the stakeholder:
  1. Navigate to Setup and Maintenance and select the Enterprise Profile functional area under the Financials offering.
  2. Click the Manage Locations task and on Manage Locations, click Create.
  3. On Create Location, enter the location address, and click Submit.
• Set up an entity, such as a contact person, and add the address and contact details to the entity.

  For information on how to set up a contact person, see Create Application Users. In the contact person record, specify the location address that you set up in the preceding task.

  Note: When you set up an entity, the associated Party record is automatically created, and it’s identified by the party number. This number is used to assign the stakeholder’s address and contact details when setting up a stakeholder.
• Make sure that an administrator has set up the Joint Venture Subledger to enable the creation of journals. See Set Up the Joint Venture Subledger for Internal Transfer Journals for more information.

If you plan to set up an interested stakeholder, the preceding instructions for setting up an address and an entity also apply to this stakeholder. The cost center and Joint Venture Subledger setup aren't necessary for this type of stakeholder.