Update Transactions and Distributions for Billable Assets

The Identify Joint Venture Transactions process includes the “Update Transactions and Distributions for Billable Assets” mode. This mode enables you to update asset transactions and distributions that have already been processed in Oracle Joint Venture Management.

There are three different scenarios in which you would use this mode to update existing asset transactions and distributions in Joint Venture Management:

• You add an account set for billable asset accounts to an existing joint venture definition.
• You modify an account set for billable asset accounts in an existing joint venture definition.
• You remove an account set for billable asset accounts from an existing joint venture definition.

In each of these scenarios, there’s a need to recategorize and reprocess existing transactions and distributions associated with assets. For example, you might have updated the joint operating agreement to no longer bill partners for certain billable assets. The agreement was made retroactive to include the previous period.

The following table describes the three different scenarios in which you would run the “Update Transactions and Distributions for Billable Assets” mode to update transactions and distributions in Joint Venture Management:

Scenario	Results of Running the Mode
You added an account set for billable asset accounts to an existing joint venture definition.	For transactions and distributions now associated with the accounts in the account set for billable asset accounts: Transaction type changes from Asset to Billable Asset Distribution Only designation is cleared
You modified an account set for billable asset accounts in an existing joint venture definition.	If you modified an account set for billable asset accounts by adding an account to it, the process makes the following updates to transactions and distributions associated with the new account: Transaction type changes from Asset to Billable Asset If you modified an account set for billable asset accounts by removing an account from it, the process makes the following updates to the transactions and distributions associated with this account: Transaction type changes from Billable Asset to Asset Transactions and distributions change to Distribution Only
You removed an account set for billable asset accounts from an existing joint venture definition.	For transactions and distributions with an asset account: Transaction type changes from Billable Asset to Asset The Distribution Only designation is cleared for all Asset accounts even if they were previously nonbillable.

Important:

All asset transactions and their distributions in Joint Venture Management are eligible for updating unless the distributions are in the process of being billed. For distributions that have been billed, this process does not reverse billed distribution amounts. You must identify the billed distributions and run the reversal process to create credit memos for the billed amounts.

To update transactions and distributions for billable assets:

1. From the Home page, select Joint Venture Management, and then from the Quick Actions list, select Identify Joint Venture Transactions.
2. For the Processing Mode, select Update Transactions and Distributions for Billable Assets.

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

   • Legal Entity. Use this field to identify transactions 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. Select a particular joint venture or click Select More to select multiple joint ventures. 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. In the From Date field, enter a date from which you want to process transactions.

5. Click Submit.

   When the process is complete, you can check the log for the number of transactions and distributions that were updated.