Overview of Joint Venture Transactions and Distributions

Schedule the following processes to identify joint venture transactions and create distributions from the transactions:

• Identify Joint Venture Transactions

  This process uses the details in a joint venture definition to identify the transactions for a joint venture in Oracle Fusion Cloud Financials. If a default ownership definition is defined in the joint venture definition, you can configure the Identify Joint Venture Transactions process or run the mode of the process to assign the default ownership definition to transactions. This process won’t identify transactions that were previously identified by Oracle Joint Venture Management.

  If ownership definition assignment rules were set up for a joint venture, you can configure this process to apply the assignment rules to joint venture transactions. Assignment rules enable you to assign different ownership definitions or direct billed stakeholders to different types of joint venture transactions. You can use assignment rules in place of or with a default ownership definition. See Apply Ownership Definition Assignment Rules to Joint Venture Transactions for more information.

  If your administrator has set up an integration between Project Costing and Joint Venture Management, the Identify Joint Venture Transactions process also assigns project attributes to the transactions based on your Joint Venture System Options and supporting references setup in Subledger Accounting.

• Create Joint Venture Distributions

  Create distributions with each partner's share of expenses and revenue.

You can set up the preceding processes to run on a schedule, or you can run them on demand as needed. You use the Joint Venture Transactions and Joint Venture Distributions work areas to manage your exceptions from these processes. See Correcting Issues with Joint Venture Transactions and Distributions for more information.

Note: After joint venture transactions are identified, you can optionally run the “Validate Ownership Definition Effective Dates” mode of the Identify Joint Venture Transactions process. This mode enables you to validate whether the ownership definitions assigned to the transactions are effective on the transaction date.

The following image shows the flow of running these processes:

After you run the processes to identify and distribute joint venture transactions, you can run the processes to draw from partner contributions to cover distribution amounts, create invoices or journal entries from joint venture distributions, send cost adjustments to Project Costing, and so forth.

Joint venture accountants can run these processes only on joint ventures that are associated with business units that they're authorized to manage through data security. See Set Up Data Security for Oracle Joint Venture Management for more information.