Create Partner Contribution Invoices Through a Scheduled Process
Run this process to create receivables invoices for partner contributions: Process Joint Venture Partner Contributions – Create Partner Contribution Invoices.
The process provides the following options:
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Create partner contributions for multiple stakeholders using an ownership definition. The process splits a gross amount and creates a partner contribution for each stakeholder based on their percentages of ownership.
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Create a partner contribution for a single stakeholder by assigning the entire gross amount to the stakeholder.
You can click the transaction number link to review the details of an invoice in Oracle Receivables.
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If the invoice was created in a preferred currency, populates the entered contribution amount (in preferred currency) with the contribution amount (in the ledger currency) in the Partner Contributions work area
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Populates the open amount in the primary ledger currency
This is the amount that’s available to be drawn from to cover cost-related distributions.
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Updates the status of the contributions to Available to Draw
If the process fails to create invoices for some stakeholders, the partner contribution status is updated to Error and the specifics of the error are included in the report.
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Assigns the invoice date and accounting date to the invoices in Oracle Receivables and General Ledger respectively
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Uses the line transaction flexfields for joint venture invoices to pass the following information and store them as references for the invoice in Receivables: joint venture name, primary segment value, joint venture distribution type “P” (for partner contributions), partner contribution ID, and the partner account containing all the account segment values
See Use Subledger Accounting Rules to Derive the Partner Account for more information.
Joint Venture Partner Contribution Account
For partner contribution invoices, you use a liability account from your chart of accounts to write the invoice amount for stakeholders. You specify this liability account as the joint venture partner contribution account.
The following example illustrates the accounting in Oracle Receivables when invoicing a partner contribution. The joint venture partner contribution account used in this example is 11-1001-49003-11-0001.
| Account | Debit | Credit |
|---|---|---|
| Receivable | 50,000 USD | None |
Joint Venture Partner Contribution Account (11-1001-49003-11-0001) |
None | 50,000 USD |
To create accurate accounting entries in the cost recovery invoice that you generate for stakeholders, make sure that the partner contribution line in the invoice is written to the same liability account that you defined as the joint venture partner contribution account.