Detailed Statuses for Joint Venture Transactions
In the Joint Venture Transactions page, use the detailed statuses in the Status column to review specific error or warning information on joint venture transactions.
The statuses and their meanings are:
- Missing transaction date
- Missing ownership definition
- Inactive stakeholder
- Ownership not effective – Indicates that the ownership definition associated with the transaction is not effective for the transaction date.
- Reference not valid – Indicates that the supporting references cannot be resolved.
Joint Venture Transactions work area showing detailed status errors.
The new Validate Ownership Definition Effective Dates mode of the Identify Joint Venture Transactions process is an optional process that enables you to validate whether the ownership definitions assigned to the transactions are effective on the transaction date. To do so,
- Run the Identify Joint Venture Transactions scheduled process in Validate Ownership Definition Effective Dates mode.
- Optionally, specify the Joint Venture, Ledger or Period for which transactions will be validated.
Process options for the Identify Joint Venture Transactions job for the mode Validate Ownership Definition Effective Dates
It is recommended to run this process before distributions are created, in order to determine whether the identified transactions are associated with the correct ownership definitions that will be used to split the transactions during the distribution process. You can adjust the effective dates of ownership definitions to cover all joint venture transactions that need to be processed.
Business Benefits:
- Helps correct transactions with minimal analysis.
- Helps complete month-end close activities more quickly.
Steps to Enable
You don't need to do anything to enable this feature.
Key Resources
- For more information, refer to Using Joint Venture Management guide.
Access Requirements
- Joint Venture Accountant
- Joint Venture Accounting Manager