Final JV Month End

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1 Introduction
2 Final JV Month End
3 Run the JIBU115 Process

Watch our One Step Month End Quick Byte!

Introduction

The Single Step methods consist of two processes the JIBU114 Calculate Net and the JIBU115 Final JV Month End.

The Calculate Net JIBU114 can be run anytime during the month. The final joint venture month end is run at the end of the month to create the joint interest billings

Final JV Month End

This month end process completes the Gross to Net Cycle by running the following processes at month end:

1. JIBU087 – Generate Allocations Process

2. GELU011 – Posting of JIBU087 voucher

3. JIBU050 – Validation DOI Distributions

4. JIBU018 – Distribute to DOI Partners

5. JIBU077 – Generate Overhead – Operating Overhead

6. GELU011 – Posting of JIBU077 voucher

7. JIBU077 – Generate Overhead – Capital Overhead

8. GELU011 – Posting of JIBU077 voucher

9. JIBU050 – Validation DOI Distributions

10. JIBU018 – Distribute to DOI Partners

11. JIBU024 – Generate JIB Vouchers

12. GELU011 – Posting of JIBU024 voucher

13. JIBU066 - Generate GST Recovery

14. GELU011 – Posting of JIBU066 voucher

Run the JIBU115 Process

To run the process navigating to the main menu and select Joint Interest Processing → Final JV Month End.

Enter data to submit the final JV month end process.

In this field...	Enter this information...

In this field...	Enter this information...
Organization ID	The ID of the organization being processed in Qbyte Financial.
Accounting Period End Date	The accounting period to be processed in format YY/MM
Current Month Only	Enter Y to run the process for the current month only. Enter N to run the process for all transactions since the last allocations were done. Note: Selecting N can result in the job taking some time to run. Current month is used for JIBU087 Generate Allocations
Activity Date	Enter the Production Month you want the overhead charged to. Leave blank for Capital Overhead. Activity date is used for JIBU077 Generate Overhead

This process is run for a single organization at a time. If you are running this process, you should also ensure that:

The Allocation Summary report (Optix → Masters → Joint Interest → Allocation Summary) is run before JIBU115 Final JV Month End.
- The report should be checked to ensure that the existing allocations structure contains no errors (such as looping, for example).
- Should the JIBU087 Generate Allocation process (called by JIBU115 Final JV Month End) encounter an allocation loop, it will hang and require that you end the JIBU087 and JIBU115 jobs.
A valid printer has been specified in User Defaults.
The voucher type(s) assigned to JIBU087 Generate Allocations, JIBU077 Generate Overhead, JIBU024 Generate JIB Vouchers, and JIBU066 Generate GST Recovery in Modules have been set up for auto numbering for the organization being processed.
The Accounting Period specified on the screen is open for the Organization being processed.
A Trial Balance report should be run afterward to ensure that all gross accounts have cleared.

JIBU115 Final JV Month End can be set up to run nightly using the Process Streams functionality.