ABOUT OPEN ITEM, MANAGEMENT

[Former Member]

hai

What is the open item management and which basis it is created .is the all balance items are open item .and .if GR/IR account also open item .why should we maintain both accounts .why dont use only one account for this .

please give clear understanding

i would be appreciate to u

regards.

pooja

[Former Member]

pooja open item mgt is used where transctions like the bills are payable and receivables ( outstanding amounts) . it is used for clearing the bill wise payments or receipts. when we make payment the system will ask against which bill we have to make payment.