1. Using Joint Venture Management
  2. Create Partner Contribution Invoices Through a Scheduled Process

Create Partner Contribution Invoices Through a Scheduled Process

Run this process to create receivables invoices for partner contributions: Process Joint Venture Partner Contributions – Create Partner Contribution Invoices.

Note: You can’t use this process to create invoices for partner contributions that are associated with nonoperated joint ventures. For such partner contributions, you must associate a manual payables invoice or journal entry to the partner contribution. See Create a Receivables Invoice or a Journal Entry for a Partner Contribution.

The process selects only the partner contributions in Ready to Invoice status and performs the following tasks:

  • Creates receivables invoices for partner contributions

  • Adds the invoice details, such as the transaction type, invoice number, transaction amount, and transaction date in the Partner Contributions work area

    You can click the invoice number link to review the details of an invoice in Oracle Receivables.

  • If the invoice was created in a preferred currency, replaces the entered contribution amount (in preferred currency) with the contribution amount (in the ledger currency) in the Partner Contributions work area

  • Populates the open amount in the primary ledger currency

    This is the amount that’s available to be drawn from to cover cost-related distributions.

  • Updates the status of the contributions to Available to Draw

    If the process fails to create invoices for some stakeholders, the partner contribution status is updated to Error and the specifics of the error are included in the log.

  • Assigns the invoice date and accounting date to the invoices in Oracle Receivables and General Ledger respectively

  • Uses the line transaction flexfields for joint venture invoices to pass the following information and store them as references for the invoice in Receivables: joint venture name, primary segment value, joint venture distribution type “P” (for partner contributions), partner contribution ID, and the partner account containing all the account segment values

    See Predefined Flexfields for Joint Venture Receivables Invoices.

Joint Venture Partner Contribution Account

For partner contribution invoices, you use a liability account from your chart of accounts to write the invoice amount for stakeholders. You specify this liability account as the joint venture partner contribution account.

The following example illustrates the accounting in Oracle Receivables when invoicing a partner contribution. The joint venture partner contribution account used in this example is 11-1001-49003-11-0001.

Account Debit Credit
Receivable 50,000 USD None

Joint Venture Partner Contribution Account

(11-1001-49003-11-0001)		 None 50,000 USD

To create accurate accounting entries in the receivables invoice that you create to recoup joint venture costs, make sure that the partner contribution line in the invoice is written to the same liability account that you defined as the joint venture partner contribution account.

See Set Up Partner Accounts for Joint Venture Receivables Invoices.