on 07-04-2007 10:01 AM
When we are creating G/L accounts, there is a option of open item mgmt in fs00 when we have to click this check box,. open item mgmt is for balance sheet,
Hi, Here in sd flow
(1) enuiry & quotations
(2) sales order
(3) Delivery & PGI
(4) Billing
In this where fi involves.
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Hi
Bhaskar
<u><b>Meaning</b></u>
Accounts where every posting need to offset by a corresponding posting so that the balance of account become zero should be managed on open item.
<u><b>Purpose</b></u>: There are certain accounts where we need to make posting for the time been such accounts are maintained on open item basis.
For example GR/IR clearing account here the scenario is we have received goods so we to enter material in books but goods are not yet verified so we cannot credit vendor so we use GR/IR clearing account.Later on after invoice verification we will credit vendor and GR/IR account will have no balance
Assign points if useful
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hi
Open item management is further reconciliation function. OIM allows you to display the open and cleared items and amounts in an account. OIM should be used if an offsetting entry is made for every line item posted in the account. The a/c is reconciled and cleared against another account. Ex. Salary clearing account and GR/IR Clearing account.
nagesh
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Dear Bhaskar,
Visit following help link on 'Open Item Management' option:
http://help.sap.com/saphelp_erp2005/helpdata/en/c7/a88b9c43dd11d182b30000e829fbfe/content.htm
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.
Regards,
Naveen.
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Hi,
Determines that open items are managed for this account.
Items posted to accounts managed on an open item basis are marked as open or cleared. The balance of these accounts is always equal to the balance of the open items.
Set up accounts with open item management if offsetting entries are to be assigned to the postings made to these accounts. Postings to these accounts represent incomplete transactions.
Example:
A goods receipt/invoice receipt (GR/IR) clearing account should be managed on an open item basis so that you can check at any time whether invoices have been received for the goods received for an order.
Set up accounts without open item management if no offsetting entry is to be made against a posting to this account.
Examples
Accounts that are managed on an open item basis include:
Clearing accounts:
Bank clearing account
Regards,
Sridevi
<i><b>Award points, if useful</b></i>
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Hi Bhaskar,
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.
Please assign points and close the thread please.
Rgds
manish
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