gl a/c

[Former Member]

Hi gurus,

while creating gl a/c master records we do not select open item management check box.please tell me which are those gl a/cs to which we do not select open item management.reply in detail.

[Former Member]

Accounts that are not managed on an open item basis:

- Bank accounts

- Tax accounts

- Raw material accounts

- Reconciliation accounts: These are managed implicitly using the subledger open item function.

- Profit and loss accounts

[chandrasekharbadeti_chand]

Hi

Generally We select Open Item Mangement Checkbox for the Accounts (not the Recon Accounts) Payables or Receivables Items which will be cleared with the opposite side postings.

Ex: Rent Payable, Interest Payable, Salaries Payable...etc. Once the Actual Payment Made that concerned Open Item will be cleared. other wise it shows as Open Item to show in the Balance Sheet.

Chandra

[Former Member]

Usually open item management A/C are a temporary account containing costs or amounts that are to be transferred to another account.

Thnx..Jess