Legal Entity for Joint Ventures

Associate a legal entity with a joint venture. Use the associated legal entity when creating Receivables invoices, Payables invoices, credit memos, and debit memos from Joint Venture Management.

Joint venture definition with legal entity.

Business Benefit:

This enables proper accounting for joint venture transactions.

Steps to Enable

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

Tips And Considerations

The legal entity information may be updated at any time. Existing joint ventures that do not have a legal entity specified in the joint venture definition will continue to generate joint venture invoices using the default legal entity for the business unit associated with the joint venture.

Key Resources

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

Access Requirements

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