Skip to Content
author's profile photo Former Member
Former Member

open item

Hi all,,,

When exactly the open item is considered due? and when it becomes overdue?

How exactly these days are calculated in system using 'payment term'.

Suppose, today 1decemebr 2007 an invoice is posted. pay term of customer is 15 days> so till when it will be due and overdue?

-Thanks. (Please answer if you are darn sure about it. i am 2 much confused)

Add a comment
10|10000 characters needed characters exceeded

Related questions

2 Answers

  • author's profile photo Former Member
    Former Member
    Posted on Nov 30, 2007 at 09:40 AM

    Hi Prashant,

    The Open item is a term used for Credit management calculation purpose.

    With your own example if the invoice is posted on 1'st Dec 2007 and payment term is 15 days.

    So if the payment is not received within the 15 days and customer orders one more order then the sales order will be blocked for credit.

    The system responce will be sales order blocked for crdit.Oldest of open items overdue 😊

    Reward points if useful

    Regards,

    Amrish Purohit

    Add a comment
    10|10000 characters needed characters exceeded

    • Former Member

      Hi amrish ... Thx so much.

      I know that credit part. But have u sometimes gone thru FBL5N report(cust. line items). It show all open/due/overdue/parked/cleared items.

      So I m confused with the status of the item.

      In my example please once again tell me .. what will b status of the item within those 15 days? what after 15 days?

  • Posted on Nov 30, 2007 at 09:46 AM

    Dear Prashant

    Will try to explain with your example itself.

    As per your agreement, the payment will fall due on 16th December and the customer is suppose to effect payment within two three days maximum. <i><b>This we can call as DUE</b></i>. At the worst case, it can exceed to 5 - 7 days which varies from company to company.

    If the payment exceeds beyond this<i><b> then it is overdue</b></i>. Got it?? ::))

    Thanks

    G. Lakshmipathi

    Add a comment
    10|10000 characters needed characters exceeded

    • Former Member

      Laxmi... thx vry much.

      What makes me wonder is that 2-3 or 5-7 days u said. Is it unknown unsaid understanding between 2 businesses?

      Then how system decides when to show the item to be 'overdue'? whr u define such period?

Before answering

You should only submit an answer when you are proposing a solution to the poster's problem. If you want the poster to clarify the question or provide more information, please leave a comment instead, requesting additional details. When answering, please include specifics, such as step-by-step instructions, context for the solution, and links to useful resources. Also, please make sure that you answer complies with our Rules of Engagement.
You must be Logged in to submit an answer.

Up to 10 attachments (including images) can be used with a maximum of 1.0 MB each and 10.5 MB total.