Categorization and Processing of Billable Asset Transactions

Categorize asset accounts that represent billable assets and bill stakeholders for these amounts through Joint Venture Management. Distribute nonbillable asset accounts to stakeholders without billing.

Use a joint venture account set to configure which asset accounts are billable and configure the joint venture to use the account set in the "Account Set for Billable Asset Accounts" field on the Account Information page of the joint venture definition.

Joint Venture Definition

When the Account Set for Billable Asset Accounts is defined in the Joint Venture Definition, any asset transactions not included in the specified billable asset account set are treated as distribution only transactions during the Identify Joint Venture Transaction process.

Business Benefit:
This provides the joint venture accountant and accounting manager with improved visibility into billable asset transactions within Joint Venture Management.

Steps to Enable

1. Create an account set that contains the billable asset accounts. 
2. Specify the account set in the "Account Set for Billable Asset Accounts" field on the Account Information page of the joint venture definition.

Key Resources

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

Access Requirements

• Joint Venture Application Administrator
• Joint Venture Accountant