Open Item Management in SAP FI
Today in this article we will show you how open items are managed in SAP. You will also know hoe to clear open items manually and transaction codes for that.
Open item means the line item is open and it’s not cleared by a clearing transaction i.e. it’s an unfinished transaction in SAP. This allows us to check whether a particular vendor transaction has been paid or not. If it’s paid then the item should not show as an open item in SAP as the net impact of both the transaction is zero.
At a particular point, the balance of an open item managed account in SAP is the sum of all the open items of that account.
When these open items in SAP are cleared with an exact amount, the system gives a clearing document number and a date of the clearing.
In SAP, Customer Accounts and Vendor Accounts are automatically open item managed. If you want Other General Ledger accounts are to be opened item managed in SAP then the same configuration should be in place while creating the master data of GL in fs00 transaction.
Clearing accounts, GR/IR Account, Payroll clearing account and bank sub-accounts (like check clearing) should be open item managed in SAP to get to know whether these transactions are already been completed.
In large organization its very difficult to process open items as the transaction is huge.
Manually Clearing Open Items in SAP
In manual clearing you select each open items in SAP when the incoming payment related to that arrive and then the item is cleared. When this occur systems creates a clearing document and enters the document number and clearing date in these open items. If the document is partially cleared then system may generate additional document based on your customization.
While clearing if the difference is within the tolerance limit then based on your configuration the differential amount got posted either to cash discount account or gain/loss GL Account.
If the payment difference is more than the tolerance limit then the payment is treated as partially paid and only a partial payment entry is made.
Transaction Codes for manual clearing
F-28 for FI-Accounts receivable
F-06 for FI-General Ledger