Create a Journal Entry to Process a Partner Contribution Transfer

To transfer a partner contribution through a journal entry, you run the processes described in the following table.

See Derive Partner Contribution Accounts for Journal Entries Created to Transfer Partner Contributions.

You must perform the following tasks to create and process journal entries for partner contribution transfers:

• Run the process that creates journal entries to account for partner contribution transfers.

• Run the process that creates accounting for the journal entries.

• Run the process that updates the accounting for posted partner contribution journals.

Perform the following steps to create journal entries to account for partner contribution transfers. The process includes only those partner contributions that are in “Ready to Transfer” status.

1. From the Home page, select Joint Venture Management, and then select Process Joint Venture Partner Contributions from the Quick Actions list.

2. For the Processing Mode, select Process Partner Contribution Transactions.

3. For the Process Type, select Transfer. You can use the default value “All” to process all partner contributions that are eligible to be transferred, closed, and canceled.

4. Use the following fields to determine the partner contributions to process, or leave them blank if you want to process partner contributions for all your joint ventures:

   • Business Unit. Select a business unit to process partner contributions for all the joint ventures associated with the business unit.

   • Legal Entity. Use this field to process partner contributions for joint ventures that are associated with a particular legal entity.

     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. Use this field to select partner contributions for a particular joint venture. If you selected a legal entity, the drop-down list includes only the joint ventures associated with the legal entity.

     Only joint ventures in Active status will be processed.

5. Select a stakeholder or leave this field blank to run the process over all stakeholders.

6. Specify default values for the following dates:

   • Contribution Start Date. Enter a date to run this process over all the partner contributions that have this contribution start date. If you leave this field blank, the current date is used.

   • Accounting Date. Enter a date to use as the general ledger date in the journal entries. If you leave this field blank, the system date will be used.

7. Click Submit.

   After the process completes, you can review the processing details in a report. To access the report, click the Process Details tab, select the “…more” link next to Attachment, and then click the .txt file.

The source partner contribution changes to “Accounting in Progress” status. The transfer will be completed only after you perform the next two tasks.

Perform the following steps to create accounting for journal entries:

1. From the Home page, select Joint Venture Management, and then select Create Accounting for Joint Ventures from the Quick Actions list.

2. Complete these fields:

   • Subledger Application. Select Joint Ventures.
   • Ledger. Enter the primary ledger of the business unit of the joint venture for which you're processing the journals.
   • Process Category. Select Partner Contribution.
   • End Date. This is in reference to the transaction or event date. Only events having an event date on or before the end date are selected for accounting. By default, this field displays the current system date.
   • Accounting Mode. Select Final.
   • Process Events. Select All.
   • Report Style. Select Summary.
   • Transfer to General Ledger. Select Yes.
   • Post in General Ledger. Select Yes if you want the entries to be automatically posted to Oracle General Ledger.
   • Journal Batch. It’s recommended that you enter a name for the journal batch. Remember this name so you can use it to search for journals generated by this process.
   • Include User Transaction Identifiers. Select No.

3. Click Submit.

The process submits multiple subprocesses. You can review the Create Accounting Execution Report for any errors. The source partner contribution remains in “Accounting in Progress” status.

Perform the following steps to update the accounting information of the journal entries in the partner contributions:

Important: You must post the journal entries to the General Ledger before you perform this task.

1. From the Home page, select Joint Venture Management, and then select Process Joint Venture Partner Contributions from the Quick Actions list.

2. For the Processing Mode, select Update Accounting for Contribution Journals.

3. Use the following fields to determine the partner contributions to process, or leave them blank if you want to process partner contributions for all your joint ventures:

   • Legal Entity. Use this field to process partner contributions for joint ventures that are associated with a particular legal entity.

     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. Use this field to select partner contributions for a particular joint venture. If you selected a legal entity, the drop-down list includes only the joint ventures associated with the legal entity.

     Only joint ventures in Active status will be processed.

4. Click Submit.

   After the process completes, you can review the processing details in a report. To access the report, click the Process Details tab, select the “…more” link next to Attachment, and then click the .txt file.

The transfer is complete and the source partner contribution changes to “Transferred” status. If the transfer is to a new partner contribution, the new partner contribution is assigned the status that you selected in the Partner Contributions work area.