Joint Venture Accounting

Joint Ventures are critical in the Energy Sector but the effective management of Joint Venture Accounting activities is a major challenge.
Achieving real-time transparency for all partners and consolidating Joint Venture projects into each partner’s financial and management accounts can be a headache; not to mention the complexities of handling rechargeable costs and reporting. Inoapps’ Joint Venture Accounting Cloud extends standard Oracle ERP to deliver the key functionality needed to track the financial operations of your Joint Ventures in a single, fully integrated system.

 

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Inoapps solution to the Joint Venture Accounting Challenge – Accurately track, allocate and recover costs

Inoapps offers unique expertise with its state-of-the-art Oracle Cloud solution for Joint Venture Accounting, which provides a real-time view of expenditure and revenue throughout the entire project lifecycle. Inoapps’ JVA Cloud for the Energy Sector delivers the key functionality needed to track the financial operations of your Joint Ventures, including:

  • Management of Equity Groups
  • Authorisation for Expenditure approvals
  • Allocation of Equity Carry
  • Joint Venture Billing
  • Cutbacks
  • Revenue Share.

Crucially this gives all joint venture partners visibility, control, governance and audit capabilities throughout the JVA lifecycle.

With full integration into Oracle’s finance, plant maintenance and materials management software – you can accurately track, allocate and recover costs for any operations, irrespective of countries and currencies.

Inoapps JVA solution will:

  • Track joint venture expenditure on a partner by partner basis 
  • Streamline workflow and reduce errors 
  • Separate allocations of billable and non-billable costs quickly and clearly 
  • Enable clear, accurate partner billing/payment for Joint Venture expenses and revenues 
  • Allow multiple equity partners to be part of a project for different periods of time
  • Improve decision-making by reporting detailed joint venture data reconciled in real-time, not just at period-end
  • Allow effective management of exchange rate exposure with simplified multicurrency processing
  • Encourage joint working and information sharing with Inoapps’ Partner Portal
  • Provide current information for any partner request and allow quick and accurate information sharing between partners

Inoapps’ solution is delivered on Oracle ERP Cloud, allowing you to extend your existing Oracle footprint, or move from your legacy ERP system, quickly and easily at minimal risk and low cost.

Inoapps JVA Solution Components

  • Partner portal
  • Project reporting and forecasting
  • Management of Equity Groups
  • Equity Carry
  • Budget Approval/ Authorisations for Expenditure
  • Cutback
  • Joint Venture Billing
  • Revenue Share
  • Legislative compliance
  • Currency exposure
  • Multi country tax reporting
  • Audit trail

The Benefits

JVA Benefits

Inoapps’ Joint Venture Accounting Cloud

 

Find out more about the Inoapps’ Joint Venture Accounting Cloud, or contact us now!

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