Draw from Partner Contributions

When you’re ready to draw from partner contributions to cover each stakeholder’s cost distributions, you run this process: Process Joint Venture Partner Contributions – Assign and Draw Partner Contributions. This process identifies partner contributions available for a stakeholder's distributions and then draws from the open contribution amount to cover the costs.

Each distribution covered by a partner contribution is updated with the ID of the partner contribution. This enables you to search for and review distributions paid with partner contributions in the Joint Venture Distributions work area.

Caution: Make sure you run the “Assign and Draw Partner Contributions” process before you run the “Create Joint Venture Invoices and Journal Entries” process. This helps ensure that a stakeholder is invoiced only for the remaining amount after partner contributions are processed.

Verify that any account set or project set associated with the partner contributions you're drawing from is set to Active status before running this process.

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 Assign and Draw Partner Contributions.

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

   • Legal Entity. Use this field to select distributions for joint ventures that are associated with a particular legal entity.

     Caution: The drop-down list displays all legal entities associated with joint ventures, including those linked to business units you don't have access to. If you select a legal entity that's associated with joint ventures you don’t have access to, no records will be processed.

   • Joint Venture. Select a particular joint venture or use 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. Select a stakeholder or leave this field blank to process distributions for all stakeholders.

5. Use the Process By drop-down list to process distributions by period or accounting date.

   • If you select Period, then select the period in the field provided.

   • If you select Accounting Date, use these fields to enter a date range:

     • From Date. If you complete this field and leave the To Date field blank, the process will select all distributions that have the accounting date starting from the date you specified to the current date.

     • To Date. If you complete this field and leave the From Date field blank, the process will select all distributions that have the accounting date before and on the date you specified.

   If you select Period or Accounting Date in the drop-down list but don’t specify a period or a date range, the process will select all distributions that have an accounting date corresponding with the earliest open period.

   If you leave the Process By field blank, the process will select all distributions that are available to process.

   Note: Only distributions for transactions with an accounting date in the specified period or within the date range will be processed.

6. For the Process Credit Cost Distributions option, use the default value Yes to include cost distributions with a credit amount when processing partner contributions. If a stakeholder has cost distributions with a credit amount, the process will add the credit amount to the open amount of the stakeholder's partner contribution. Select No to exclude credit cost distributions from processing.

   Note: This option applies only to cost distributions generated from transactions with a credit amount. It doesn't apply to revenue distributions or to credit distributions created by reversing debit cost distributions

7. For the Allow Open Amount to Exceed Contribution Amount option, use the default value, Yes, to add the credit amount to the stakeholder's partner contribution even if the open amount exceeds the accounted contribution amount. This option applies to revenue distributions and, if the preceding option is selected, to credit cost distributions.

   If you select No, credit distributions won’t be processed if adding the credit amount would cause the partner contribution open amount to exceed the accounted contribution amount. However, if another partner contribution is available for the stakeholder with a suitable open amount, the credit distributions will be processed, and the credit amount will be added to this partner contribution.

   Note: If you select “No,” make sure that another eligible partner contribution is available to receive credit amounts before you run this process. 

8. Select Submit.

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