With the help of open item management you can specify a account either to be open or cleared. To get activated open item management in the company code segment of general ledger account line item display needs to be selected.
It’s a prerequisite for a general ledger account if you need to check whether there is an offsetting for a given business transaction. With the help of open item management you can display the cleared and opened items separately and you can find out those transactions which need to be cleared. It can be activated or deactivated if the general ledger accounts have a zero balance.
Open item management can be used for all the general ledger account created in SAP but you need to have open item management functionality for specific general ledger accounts like;
- Bank Clearing Account
- GR/IR Clearing Account
- Salary Clearing Account