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In GL Master Record creation (FS00) for what type of accounts
do we need to select "Open Item Management" in the control
data field? Why ? Explain the concept
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Answer Posted / ramanagottipati
'Open Item Management' check box is ment for any account
which needs to get cleared. But this is not needed for the
Vendors, Customer or Assets items as they are already Sub
Ledgers and the data of them is already saved seperately
and are not again maintained at GL level. To say in short,
the system will not even allow you to Check this box it the
account is a Reconciliation account(GL account for Vendors,
Customers or Assets).
The Open Item Managed account will have Both the Debit and
Credit transactions to be Knocked off and to be sent to
Cleared Items.
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