what is open item management?
Answers were Sorted based on User's Feedback
Answer / divya
while creating gl master record there will be one field
called open item management where we need to tick the
indicator so that at the time of posting any invoice
relating to debtors or creditors automatically the invoice
whatever we have posted will be shown as an open item which
means that has to be cleared or payment has to be done.
when we want to check the customer or vendor balances it
will be shown with a red mark which indicsates that it is
an open item management
| Is This Answer Correct ? | 10 Yes | 0 No |
Answer / avish
open item management is related with outstanding expenses IE;
salary account which is not paid yet it has to be pay in future related account receivables and account payable.
| Is This Answer Correct ? | 1 Yes | 0 No |
What is the difference between Cash Flow and Fund flow
1. Fdr mature with interest
Expand ________EMI
outstanding expenses are the expenses that "unpaid"at the end of the accounting period e.g.salaries rent so they all come to under nominal accounts which is debt all expenses and losses and credit all gains since they are unpaid hence they must be credited
Short Answer on ______Transaction
AT THE TIME OF REDEMPTION OF DEBENTURES. WHEN THERE IS PROFIT/LOSS ON SALE OF DEBENTURES WE TRANSFER THAT AMOUNT IN PROFIT AND LOSS A/C BUT WHEN WE CANCEL OUR DEBENTURES AFTER BUYING IT FROM OPEN MARKET THE DIFFERENCE BETWEEN MARKET VALUE AND COST OF DEBENTURES TRANSFER TO "CAPITAL RESERVE ACCOUNT .. WHY SO ANY PRACTICAL ANSWER ??
what is service tax, how much calculated on service?
what is cap & floor of call rates?
What is a Mutual Fund and its types?
define drawer or maker
EXPAND_________BID
expand C M P F