Joint Venture Management

Joint Venture Accounting – Optimal Commercial Management of Joint Ventures

The commercial management of joint ventures presents a special challenge in the construction industry. Joint Venture Accounting in BDS Baupaket V5 helps you keep track of joint venture projects and manage collaboration with joint venture partners professionally.

Requirements:

• Joint venture accounting is fully integrated into the BDS Accounting V5 module and follows the guidelines of the professional associations.
• In the multi-entity accounting, a separate company (client) is defined with the identifier “ARGE” for joint ventures.
• Definition of partners with their participation and position (commercial/technical management) as well as the fees to be billed.
• Use of a common standard chart of accounts for joint ventures as well as centrally managed customer and supplier data.
• Specific sub-ledger for managing partner services.
• Integrated cost accounting for controlling over multiple construction lots.
• Automated posting of monthly accruals.
• Creation of preliminary and final joint venture reports with partner distribution.
• Support for Austria: Participation in joint venture data exchange via EDI.

Reports:

• Construction profit report: Overview of booked values, accruals, and developments since the start of construction.
• Asset overview: Creation of an interim balance sheet of the joint venture.
• Partner account comparison: Comparison of partner services with balancing amounts.
• equipment balancing adjustment: Comparison of partners' equipment orders.
• management-fee settlement: Calculation and posting of partner fees.
• Cover sheet for sending the joint venture reports.

With Joint Venture Accounting in BDS Baupaket V5, you benefit from seamless integration into your existing accounting, increased efficiency, and optimized management of joint ventures.