About the Oracle Joint Venture Management Integration with Oracle Project Costing Setup

An integration with Project Costing enables joint venture accountants to create cost adjustments from joint venture cost distributions associated with external stakeholders. Project accountants can then import the cost adjustments into Project Costing. In Project Costing, cost adjustments are netted from the gross amount, enabling project accountants to realize the accurate capitalized cost.

If Project Costing is set up to calculate burdening costs, configure the integration to create cost adjustments for both raw and burdening costs. Check with a project accountant if you're unsure whether burdening is enabled in Project Costing.

You must perform the following tasks to configure the integration:

Set up a transaction source for identifying cost adjustments from Oracle Joint Venture Management.
Set up supporting references to capture project details in subledger journal entries
Set up overrides for certain project details in cost adjustments.

After the integration is complete, in preparation for creating cost adjustments, it’s recommended that joint venture accountants set up account sets to identify accounts with project-related transactions for the joint venture. They can also optionally create a project set to identify transactions for processing based on specific project attributes. See the following topics for more information.