Answer Posted / 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

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