What is the difference between open item display & line
item disply in GL creation???
Answers were Sorted based on User's Feedback
Answer / deepak
While GL creation we have tick boxes which say open item
managed and line item display.
If you tick open item managed, then when you view the
ledger of this particular GL accounts, all items which are
opened (not cleared) will appear in red and those which are
cleared will appear in green. For ex. Vendor reconcilation
gl, you need to select open item management compulsorily.
When you view vendor accounts all those line items which
are open will have a status in red and those cleared will
be in green.
Line Item display
When you go to a particular GL and want to view all the
line item then compulsorily this line item display needs to
be ticked while creation of GL account.
For few accounts where there would huge transactions you
need not have line item display. For ex. Capital work in
process account.
Is This Answer Correct ? | 36 Yes | 8 No |
Answer / syed altaf pasha
pen item: open item is an item which has to be cleared with
another line item.
Open item management: how you want to manage all the open
item in particular GL A/C.
Open item management is the setting which allows the setting
to maintain the open items for the particular GL account.
Use of open item : Processing open items involves choosing
and then activating the open items. Processing is the last
step before posting a clearing document. When posting
clearing documents, the system takes tolerances into
account. Tolerances are acceptable payment differences.
When the line item(s) you enter and the open item(s) you
process have been cleared, you can post a clearing document.
For example, if you enter a vendor payment for $1000, you
must choose and process vendor open items that equal $1000.
If your system permits a 1% tolerance, then you can clear
open items with a value from $990 to $1010.
If you set the "Open item management" indicator in the
master record for an account, the line items in this account
is marked as open or cleared.
The balance of an account with open item management is equal
to the balance of the open items. General ledger accounts
are kept with open item management if you need to check
whether there is an offsetting posting for a given business
transaction.
You should use open item management for bank clearing
accounts, clearing accounts for goods receipt/invoice
receipt, and salary clearing accounts. Bank accounts,
however, do not use open item management.
If you subsequently define open item management for a G/L
account, this entry only applies to the items which are
posted afterwards. At the date of the change, the account
must display a zero balance.
Also, when canceling this indicator, the balance must be
zero. You therefore have to clear the remaining open items
before making the change in the master record.
Reply With Quote..
take an example:
When you purchase from vendor you pass the following entry.
Dr. Material / Expenses A/c.
Cr. Vendor account (if it is credit purchase)
Now the vendor account is showing credit balance till you
make payment to the vendor. This in SAP they call is open item.
While making payment
Dr. Vendor account
Cr. Cash / Bank account
If once you make the payment to vendor, while making the
payment to the vendor, you need to link the payment with
lying open item of above purchase. System automatically
changes the status of above open item (red colour ball) to
cleared item (green colour ball) in the vendor account.
Reply With Quote
Is This Answer Correct ? | 10 Yes | 2 No |
Answer / sachin patil
Opent item management means which requires futher clearing.
Line item means it will display the gl amount line item wise
Is This Answer Correct ? | 6 Yes | 3 No |
Answer / mamidi vijay
Open Item Management Display and Line Item Display are
selected at the time of General Ledger is created.Openitem
Management Display is selected only for open and cleared
items setoff purpose.ex. Outstanding Liabilities a\c.
But Line Item Management Display is compulsory selected to
creation for every General Ledger A/c for the transactions
are displayed in Line Item wise.
Is This Answer Correct ? | 2 Yes | 1 No |
Open item and line item.
Open item management & Lime item - Compulsory for Balance
Sheet item. bkaz we have to clear the entry. for.eg we have
to clear the vendor invoice with payment, if any invoice is
pending system show. (Not necessary to view all item.)
Line item - only for P & L. bkaz we need not to clear the
expenditure.
When you create the GL without line item tick mark, we can
modity it.
Is This Answer Correct ? | 5 Yes | 5 No |
Answer / nimmi
Opent item display will keep few month open for few GL
accounts where the entries can be posted. and Line Item
display if selected gives the breakup of the entry. for Eg
if Rent is paid for different offices in different locations
Instead of Rent a.c dr to Bank we will get a break up of
the locations and the amount.
Is This Answer Correct ? | 8 Yes | 10 No |
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