Create Carried Interest Journals

Create journals for carried interest distributions to track the amounts consenting stakeholders are carrying for nonconsenting stakeholders in a carried interest agreement. The process creates carried interest journals only for carried interest distributions whose associated distributions have been fully accounted.

Important: Make sure that an application implementation consultant has set up the Joint Venture subledger to support the creation of carried interest journals. You can’t create carried interest journals without this setup.

Joint venture accountants can run the process to create carried interest journals.

1. From the Home page, select Joint Venture Management, and then select Create Joint Venture Invoices and Journal Entries from the Quick Actions list.
2. For the Processing Mode, select Create Carried Interest Journals.
3. Use the following fields to filter the carried interest distributions that you want to process. Or you can leave them blank to create carried interest journals for all carried interest distributions that are available to process.
   • Joint Venture
   • Carried Interest Agreement
   • Consenting Stakeholder
   • Nonconsenting Stakeholder

   For example, you can filter on a consenting stakeholder and nonconsenting stakeholder. This enables you to create carried interest journals for a particular consenting stakeholder that’s carrying the interest for a particular nonconsenting stakeholder.

4. Use the Process By drop-down list to process distributions by period or accounting date.

   • If you select Period (recommended), then select the period in the field provided.

   • If you select Accounting Date, use these fields to enter a date range:

     • From Date. If you complete this field and leave the To Date field blank, the process will select all carried interest distributions that have the accounting date starting from the date you specified to the current date.

     • To Date. If you complete this field and leave the From Date field blank, the process will select all carried interest distributions that have the accounting date before and on the date you specified.

   If you select Period or Accounting Date in the drop-down list but don’t specify a period or a date range, the process will select all carried interest distributions that have an accounting date corresponding with the earliest open period.

   If you leave the Process By field blank, the process will select all carried interest distributions that are available to process.

   Note: Only carried interest distributions for transactions posted in the specified period or within the date range will be processed.
5. For the Accounting Date, enter a date to assign as the general ledger date in the carried interest journals. If you leave this field blank, the system date will be used.
6. Click Submit.
7. After the process completes, verify that carried interest journals were created for the appropriate carried interest distributions:
   • In the Attachment section, review the "Create Carried Interest Journals Report" for details about the generated carried interest journals.
   • Check the status of the applicable carried interest distributions in the Carried Interest Distributions work area. The status should be Accounting in Progress.