Create an Account Set

You can create an account set for use in a single joint venture or for use in multiple joint ventures. Here are the setup options for both scenarios:

• To use an account set in a specific joint venture, you specify a joint venture and the ledger associated with the joint venture.

  In this scenario, the primary segment value or values specified in the joint venture definition are automatically included as filter criteria for identifying distributable accounts.

• For use in multiple joint ventures, you specify a ledger without specifying a joint venture.

  In this scenario, you can set up filters for identifying the same category of accounts that exist under different primary segments. Remember that the primary segment values identified in a joint venture definition are unique to the joint venture. To identify distributable accounts, Oracle Joint Venture Management uses account combinations assembled from the primary segment values in each joint venture definition and the accounts identified specified in the account set.

If you specify a joint venture in an account set, you also have the option to select a ledger that’s different than the ledger of the joint venture. You might want to do this for an account set for an overhead method, if you track costs for accounting, maintenance, and other general business operations in a ledger that’s different than the ledger of the joint venture.

If you’re not managing a joint venture as a separate legal entity, you want to make sure to select the Validate Primary Segment Values option.

You must set an account set to Active status before you can assign it to a joint venture definition, ownership definition assignment rule, or overhead method.

Important:

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.

Perform these steps to create an account set:

1. Navigate to Setup and Maintenance and select the Joint Venture Management functional area under the Financials offering.
2. Select the Manage Joint Venture Account Sets task.

3. On Account Sets, click Add.

   Or click Manage in Excel and use the spreadsheet to add multiple account sets. The spreadsheet contains instructions on how to complete the columns, which reflect the fields in the user interface and include a list of values for fields when applicable.

4. On New Account Set, enter a name and description for the account set.
5. Set up the account set for use in either a specific joint venture or multiple joint ventures:

   1. For a specific joint venture, specify the joint venture and then click the “Use Joint Venture Ledger” checkbox to automatically select the ledger of the joint venture.

      Or you can choose to select a ledger other than the ledger of the joint venture, for example if you’re creating an account set for an overhead method and you track costs for accounting, maintenance, and other general business operations in a ledger that’s different than the ledger of the joint venture.

   2. For multiple joint ventures, specify a ledger without specifying a joint venture.

      The COA for the ledger specified here must match the COA for the primary ledger of the joint ventures.

   3. If you selected a joint venture and the “Use Joint Venture Ledger” checkbox, you can also select these options:
      • Validate Primary Segment Values. If you select this option, the application will validate that primary segment values that you enter in the account set filters are primary segment values in the joint venture definition. No other primary segment values will be allowed in a filter.
      • Include Primary Segment Values. Use this option if you want the account set to automatically filter on all primary segment values identified in the joint venture definition of the selected joint venture. You don't have to explicitly add filter sets with filters for the primary segment values. You only have to set up filter sets if you need to enter segment values other than the primary segment values to identify other accounts.
6. Click Create and then proceed to add filter sets and filters to the account set.
7. To add a filter set, complete these steps:
   1. Open the account set from the Account Sets page.

   2. Click Create Filter Set and give it a name and description.

      Caution: Filter set names must be unique across all account sets.
   3. Click Create.

8. To add a filter to a filter set, complete these steps:

   1. Click Add Filter and then in the row that appears, enter the following details:
      • Filter Set. Select the filter set that you created.
      • Segment. Select from a list of segments in the ledger.
      • Operator. Select Is, Is Not, or Between, Matches Any, or Does Not Match Any.

   2. Enter a value or values according to the selected operator.

      For the Between operator, enter the start and end range of values in the Value 1 and Value 2 fields respectively.

      For the Matches Any or Does Not Match Any operator, click the Value 1 field and then enter the values in the area provided.

      Caution: You can include a primary segment value in a filter. However, before you do, make sure you understand how it will be processed based on the setup of the account set:

      • An account set that’s set up for a particular joint venture and the joint venture’s ledger

        The account set will automatically use the primary segment values identified in the joint venture definition as filter criteria. If you add a filter that includes one of the primary segment values, the filter overrides the use of any other primary segment values from the joint venture definition. For example, if the joint venture definition includes three primary segment values and you set up a filter with one of those primary segment values, only the single primary segment value will be used to identify transactions for that filter.

      • An account set that’s set up only for a ledger and not a joint venture

        If you use a primary segment value in the filter, the filter will only be used if the primary segment is valid for the joint venture that the account set is assigned to.

   3. Click Submit at the end of the filter row.

9. Continue to add filters and additional filter sets as needed.

   Your changes are saved automatically.

10. When complete, click Go back.