Joint Venture Overhead

Joint venture overhead provides the ability to:

• Create user-defined rules to calculate overhead charges or management fees for managing partners of a joint venture to recover costs associated with managing the joint venture.

• Process the calculated overhead as cost recovery or as revenue to the managing partner.

• Define periodic adjustment factors to adjust overhead method percentages and rates on a periodic basis.

Enables the managing partner to:

• Conform to the joint operating agreement by ensuring accurate calculation and distribution of overhead and management fees to be billed to the joint venture partners.

• Minimize month-end processing and reduce potential errors caused by manual entry through the use of automated processes.

Steps to Enable

You don't need to do anything to enable this feature.

Tips And Considerations

• Starting with release 24B joint venture overhead is no longer optional for Joint Venture Management and will be auto-enabled.

• If you are using this feature, there will be no difference in the way Joint Venture Management looks or processes.

• If you are not using this feature and have the Feature Opt In disabled, when you receive the 24B update, you will see overhead-related information on the UI that was previously not visible. This has no effect on Joint Venture Management processes.

Key Resources

• For more information, refer to
  • Implementing Joint Venture Management guide and
  • Using Joint Venture Management guide.

• Watch Joint Venture Overhead Readiness Training.

Access Requirements

• Joint Venture Application Administrator
• Joint Venture Accountant
• Joint Venture Accounting Manager