Answer Posted / dharma

Hi,
Defining "Open Item Management"
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.

What is clearing? : fi- general ledger accounting

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