What is open line item management? What do you mean by clearing open line items

What is open line item management? What do you mean by
clearing open line items?

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What is open line item management? What do you mean by clearing open line items?..

Answer / raj

Open line item is that a same debit or credit has to be done
against that account to make the balance zero of that
account. and this account can be clear only by paying full
amount of vendor or getting full amount form a customer. but
when we pay through residual method the invoice which we are
paying for becomes clear with the amount we paid to
vendor/customer and system generate a new document for the
remaining amount. and will show this doc. as open item.

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What is open line item management? What do you mean by clearing open line items?..

Answer / sunny rao.b

Open items can be said as unresolved items in the
accounting process it means an entry needs to be made
complete if amount pertaining to the a line item is not
complete i.e., unresolved items. So on these open items
they are supposed to be cleared at the end of the financial
year. otherwise the entries cannot be processed completely.

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What is open line item management? What do you mean by clearing open line items?..

Answer / seapna

we can used the the open ite management for out standig
payments and receivables

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7 Yes

11 No

What is open line item management? What do you mean by clearing open line items?..

Answer / venkat

Line Item Means Nothing but business transaction. It means
clearly shows the details of transaction.

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2 Yes

12 No

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