1. Using Joint Venture Management
  2. Correcting Issues with Joint Venture Transactions and Distributions

Correcting Issues with Joint Venture Transactions and Distributions

To resolve any issues or disputes, you can delete joint venture distributions and remove their associated joint venture transactions from the Distributions and Transactions work areas respectively. You can then update the joint venture definition to correct the issue.

For example, you might need to add a new stakeholder or adjust the stakeholder percentages in the ownership definition, or identify another account that contains transactions to distribute. After revising the joint venture definition, you can rerun the Oracle Joint Venture Management processes to identify and distribute the transactions again.

This section describes some issues you might run into and the general process for resolving them.

Transaction Split When Entire Transaction Amount Should Be Applied to a Direct Billed Stakeholder

A transaction should have been distributed to a direct billed stakeholder but instead was mistakenly split and distributed among stakeholders. To correct this issue, you need to:

  1. In the Joint Venture Distributions work area, delete the distributions created for the transaction.

    This resets the status of the associated transaction from Process Complete to Available to Process in the Joint Venture Transactions work area.

  2. In the Joint Venture Transactions work area, override the ownership definition with the direct billed stakeholder.

  3. Manually run the Create Joint Venture Distributions process, or wait for it to run on its schedule to create a distribution for the stakeholder that contains the entire transaction amount.

Incorrectly Identified Transactions

Distributions have been generated for transactions that aren't associated with a joint venture. In this case, it's likely that the wrong accounts or projects were specified in the joint venture definition, resulting in incorrect transactions being identified and distributed. To correct this issue, perform these steps:

  1. In the Joint Venture Distributions work area, delete distributions generated from the incorrectly identified transactions.

  2. Remove the transactions from the Joint Venture Transactions work area.

  3. In the joint venture definition, update the account information or project information to accurately reflect the correct accounts or projects. This will help ensure that only the appropriate transactions are identified and distributed.

Transactions with Missing Transaction Date

Transactions in "Missing Transaction Date" error status can't be distributed.

This can be due to the following issues:

  • Incorrect setup of supporting references to capture the transaction date in Oracle Financials.

  • Source transaction doesn’t have the transaction date specified.

To correct the issue about incorrect supporting references setup:

  1. In Oracle Fusion Cloud Financials, update your supporting references.

  2. In the source transaction, review and identify the date to use as the transaction date.

  3. In the Joint Venture Transactions work area, update the transaction date for the transaction.

To correct the issue about the source transaction not having a transaction date:

  1. Determine the date to use as the transaction date.

  2. In the Joint Venture Transactions work area, update the transaction date for the transaction.

For information on supporting references and how to determine a date to use as the transaction date, see About Identifying a Transaction Date for Processing Joint Venture Transactions.

Missing Expenditure Business Unit or Incorrect or Missing Attributes in Project-Related Transactions

If you have project-related transactions in the Joint Venture Transactions work area with either missing or incorrect project attributes, it might be due to a setup issue.

Joint Venture Management depends on supporting references to provide project information for joint venture transactions. An administrator sets up supporting references as part of the integration between Joint Venture Management and Project Costing. Setting up supporting references in the many different subledgers is a complex process and sometimes mistakes can happen. Contact your administrator and ask them to check for common setup issues, which can include:

  • Neglecting to set up all supporting references to identify project details
  • Incorrectly configuring or not configuring supporting references for an event in a subledger
  • Using the wrong source value when mapping a supporting reference for an event
  • Mapping the wrong supporting reference in the Joint Venture System Options

For help with troubleshooting your supporting references setup, see the following topics:

  • Set Up Supporting References to Capture Project Details in Subledger Accounting Journals

  • Use the Supporting References Report

    An administrator can generate a supporting references report in Subledger Accounting to review the supporting references they’ve set up for different accounting classes.

  • My Oracle Support knowledge document 10160158

    Refer to this support document if you encounter transactions with the “Missing Expenditure Business Unit” error. It provides steps that you can take to resolve this error in affected transactions while correcting your setup. Note that the “Update Project Details in Joint Venture transactions” mode described below does not attempt to correct the “Missing Expenditure Business Unit” error.

You can run the Identify Joint Venture Transactions process in the Update Project Details on Transactions mode to update existing project-related transactions with missing or incorrect project details in the Joint Venture Transactions work area. The process uses the corresponding Project Costing transactions in Oracle Project Management to update project details in the transactions.

You should run this process only as an exception. The process won’t update project details if an administrator hasn’t set up all supporting references.

You have the option to run the process in draft mode before running it in final mode. The process generates a CSV file with a report of the transactions that will be updated (draft mode) or have been updated (final mode). The report also alerts you to any issues that prevented the process from updating transactions, which can include:

  • The process couldn't find an expenditure item in Project Costing.

  • One or more associated distributions have been through rebilling, manual reversal, or mass reversal.
  • Associated distributions of the transaction have gone through project costing adjustments.
  • The transaction has an ownership definition assigned by an ownership definition assignment rule.
  • One or more associated distributions have a partner contribution assigned to it.
Caution:

When the "Merge Matching Lines" option is enabled in Subledger Accounting for general ledger postings, the accounting process summarizes lines based on criteria like supporting reference values. As a result, the Update Project Details mode retrieves the last expenditure line's project information, which might not always be accurate. To ensure correctness, review and verify the updated project values and if needed, manually update project details using the Joint Venture Transactions VB Excel spreadsheet as an alternative to the automated process.

To run the process to update project details on joint venture transactions, follow these steps:

Caution:

Again, run this process as an exception only. Do not run it regularly or as part of your period end processing of joint ventures. Any issues corrected by this process should be fixed permanently by making sure that all supporting references are set up in Subledger Accounting.

  1. From the Home page, select Joint Venture Management, and then from the Quick Actions list, select Identify Joint Venture Transactions.
  2. For the Processing Mode, select Update Project Details on Transactions.
  3. Use the following fields to determine the transactions to process, or leave them blank to process transactions for all your joint ventures:

    • Legal Entity. Use this field to update the transactions for joint ventures that are associated with a particular legal entity.

      Note: The drop-down list includes all legal entities that are associated with joint ventures, which can include legal entities that you don't have access to. If you select a legal entity that you don’t have access to, no records will be processed.

    • Joint Venture. Select a particular joint venture or click Select More to select multiple joint ventures. If you selected a legal entity, the drop-down list includes only the joint ventures associated with the legal entity.

      Only joint ventures in Active status will be processed.

  4. Complete these required fields:

    • Period. Enter the period that corresponds with the accounting date of the transactions that you want to process.

    • Subledger Application. Select the subledger application that’s the source of the transactions you want to update: Cost Management, Payables, Project Costing, or Receipt Accounting.

      If there’s more than one source, you must run this process separately for each source.

    • Transactions to Process. Select either of the following options:
      • Transactions with Either Missing or Incorrect Project Details
      • Transactions with Missing Project Details
    • Change Reason.

  5. You can use the Transaction Status or Accounting Class fields if you want to update only transactions in a certain status or transactions associated with a particular accounting class.

    For example, you can select the Missing Expenditure Business Unit transaction status if this is the only issue that you need to correct in the transactions in error.

  6. For the Processing Mode, select Draft or Final.
  7. Click Submit.

  8. After the process completes, access the CSV file generated by the process and verify that the project details in transactions are updated as expected.

    Access the Process Details tab for additional information about the results of running the process and additional troubleshooting information. Select the “…more” link next to Attachment, and then click the .txt file.

Transactions with Missing Ownership Definitions

Transactions that aren’t assigned an ownership definition have a status of Missing Ownership and can't be distributed. This is because of the following reasons:

  • A default ownership definition wasn’t specified for the joint venture.

  • An ownership definition wasn’t assigned through ownership definition assignment rules.

If a default ownership definition wasn’t specified for the joint venture:

  1. In the Joint Ventures work area, specify a default ownership definition for the joint venture.

  2. Remove the transactions from the Joint Venture Transactions work area.

  3. To identify the transactions and simultaneously assign the default ownership definition, run the Identify Joint Venture Transactions process without bypassing the default ownership definition assignment.

    To assign the default ownership definition after you run the Identify Joint Venture Transactions process, run the Process Ownership Definition Assignment Rules process without bypassing the default ownership definition assignment.

If an ownership definition wasn’t assigned through ownership definition assignment rules:

  1. In the Ownership Definition Assignment Rules work area, update the assignment rule or create a new assignment rule.

  2. Run the Process Ownership Definition Assignment Rules process.

Transactions with Ownership Definitions Not Effective on the Transaction Date

The ownership definition assigned to a transaction isn’t effective on the transaction date and therefore the transaction can’t be distributed. The transaction is in Ownership Not Effective status.

Depending on your scenario, you can correct the issue using one of the following approaches:

  • Use a new ownership definition with effective dates that cover the transaction date on the transactions.

  • Override the ownership definition on the transaction with an ownership definition that has the correct effective dates.

To use a new ownership definition on the transactions:

  1. In the Joint Ventures work area, create an ownership definition with effective dates that cover the transaction date on the transactions.

  2. In the Manage in Excel spreadsheet or the Joint Venture Transactions work area, assign the ownership definition to the transactions.

  3. Run the Validate Ownership Definition Effective Dates process.

Or

  1. Copy the existing ownership definition and update the effective dates and ownership percentages.

  2. In the Manage in Excel spreadsheet or the Joint Venture Transactions work area, assign the ownership definition to the transactions.

  3. Run the Validate Ownership Definition Effective Dates process.

To override the ownership definition on the transactions:

  1. In the Manage in Excel spreadsheet or the Joint Venture Transactions work area, assign the appropriate ownership definition or direct billed stakeholder to the transactions.

  2. Run the Validate Ownership Definition Effective Dates process.

Transactions with Inactive Stakeholder

The Create Joint Venture Distributions process updates the transaction status to Inactive Stakeholder in the Joint Venture Transactions work area if there are transactions with inactive direct billed stakeholders. This is because the transactions were assigned to an active direct billed stakeholder when they were identified, but the stakeholder was made inactive before you ran the Create Joint Venture Distributions process. You must correct the issue before you can distribute the transactions.

If the stakeholder shouldn’t have been made inactive:

  1. Change the stakeholder status to Active in the Joint Ventures work area.

  2. Run the Create Joint Venture Distributions process.

If the inactive stakeholder needs to be replaced with a different stakeholder that’s active:

  1. In the Manage in Excel spreadsheet or the Joint Venture Transactions work area, assign the direct billed stakeholder to the transactions.

  2. Run the Create Joint Venture Distributions process.

Or perform the following steps if you use ownership definition assignment rules:

  1. In the Ownership Definition Assignment Rules work area, update the assignment rule with the new stakeholder.

  2. Run the Process Ownership Definition Assignment Rules process.

  3. Run the Create Joint Venture Distributions process.

Distributions with Incorrect Amounts

If you have distributions with incorrect amounts, it’s because of the following reasons:

  • An incorrect ownership definition was assigned to the transaction.

  • The percentages on the ownership definition are incorrect.

If an incorrect ownership definition was used:

  1. In the Joint Venture Distributions work area, delete the distributions.

  2. In the Manage in Excel spreadsheet or the Joint Venture Transactions work area, update the transactions with the correct ownership definition.

  3. Run the Create Joint Venture Distributions process.

If the percentages on the ownership definition are incorrect:

  1. In the Joint Venture Distributions work area, delete the distributions.

  2. In the Joint Ventures work area, correct the percentages on the ownership definition.

    Or create a new ownership definition with different effective dates in correct ownership percentages.

    Note: Creating a new ownership definition with different effective dates will trigger the reversal of distributions that are not within the new effective dates. See Reverse and Redistribute Distributions Due to a Retroactive Change in Ownership.

  3. Run the Create Joint Venture Distributions process.