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OPEN ITEM MGMT

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,

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  • author's profile photo Former Member
    Former Member
    Posted on Jul 04, 2007 at 09:18 AM

    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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  • author's profile photo Former Member
    Former Member
    Posted on Jul 04, 2007 at 09:04 AM

    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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  • Posted on Jul 04, 2007 at 09:09 AM

    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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  • author's profile photo Former Member
    Former Member
    Posted on Jul 04, 2007 at 09:17 AM

    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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  • author's profile photo Former Member
    Former Member
    Posted on Jul 04, 2007 at 09:19 AM

    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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  • author's profile photo Former Member
    Former Member
    Posted on Jul 04, 2007 at 10:19 AM

    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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