Implementation Tips For Running a Joint Venture (JV) Project in your Main Account

Typically, setting up a separate Corecon account for a Joint Venture would be recommended. However, if a JV project needs to be run in your main account then please follow the guidelines below.

Example Firm Names

• Main Account: Tower General Contracting
• Other Firm: Simpson Contracting, LLC
• JV Firm Name: Tower-Simpson General Contracting

Contact Management

• Add Other Firm (ex. Simpson Contracting, LLC) and contacts that will be involved in JV.
  • Check 'Track Time' if timecards need to be recorded on the JV project.
• Add JV Firm (ex. Tower-Simpson General Contracting). Employees from both firms that will be involved in the JV could be contacts under this firm. Naturally, these would be duplicates.

Project Directory

• Client
• Architect
• Main Account (ex. Tower General Contracting)
• Other Firm (ex. Simpson Contracting, LLC)
• JV FIrm Name (ex. Tower-Simpson General Contracting)
• Subs
• Suppliers

Contract Administration - Companies Referenced on Prime Contract

• Client
• JV FIrm Name (ex. Tower-Simpson General Contracting)

HR | Other Firm's Payroll Rate Setup

Payroll rates need to be setup for the Other Firm's employees if Timecards will be recorded on the JV project.

Timecards for JV Project

• Main Account's Employees (ex. Tower General Contracting)
• Other Firm's Employees (ex. Simpson Contracting, LLC)

Accounting Integration - Applicable to Intuit QuickBooks Desktop Only (Pro, Premier, Enterprise)

At the present time, only the CoreconLink for QuickBooks Desktop utility can support multiple accounting file or database connections.

• Main Account's Projects are exported to standard or default accounting file.
• JV Project(s) is exported to JV Firm's accounting file.