Create a Payables Invoice or Journal Entry for the Refund Amount

The process includes only those partner contributions that are in “Ready to Close” status.

Note: Before you perform this task, an application implementation consultant might need to set up subledger accounting to derive the partner contribution account to which the amount will be refunded. See Derive Partner Contribution Accounts for Journal Entries Created to Close Partner Contributions.

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 Close. You can use the default value “All” to process all partner contributions that are eligible to be closed, canceled, and transferred.
4. If you selected the Close process type, the Close Type field appears with the following options:
   Note: This field doesn’t appear if you selected “All” in the Process Type field.

   • AP Invoice. Select this to process only the partner contributions that were specified for closing using an AP invoice.

   • Journal Entry. Select this to process only the partner contributions that were specified for closing using a journal entry.

   • All. Use this default value to process all partner contributions that were specified for closing using an AP invoice or a journal entry.

5. 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.

6. Select a stakeholder or leave this field blank to run the process over all stakeholders.
7. 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 for the transaction. If you leave this field blank, the current date is used.

8. 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.

Results:

If you ran this process to create a payables invoice for the refund amount, the partner contribution status changes to Closed and the open amount changes to zero. You then perform the standard task to post the invoice.

If you ran this process to create a journal entry for the refund amount, the partner contribution changes to the “Accounting in Progress” status and will be closed only after you run these processes:

• Create Accounting. See Create Accounting.
• Update Accounting for Contribution Journals (described in the next topic).