Open item
Open Items ( english open item ) is in keeping a book for which still lacks the balancing offsetting entry.
General
The double-entry bookkeeping always requires offsetting entries, making it formally be no open items can. For example, the business transaction “We sell goods against invoice ” is booked as an increase in the balance sheet item “Accounts receivable from deliveries and services” and as a decrease in the balance sheet item “Inventory” using the posting record “By receivables from inventory ” . However, the balance sheet item " Trade accounts receivable " is kept in accounts receivable management as an open item as long as there are unpaid invoices. Payment of the invoice, for example by bank transfer, is made using the posting record "by bank balance on trade receivables", which clears the open item.
Open items are systematically operated in the so-called open item accounting , in which the journal and accounts are replaced by the collection of documents .
The open items of an account can be cleared through different processes ( credit , cancellation , transfer , payment ) if the prerequisites for this are met.
Current account
In current account accounting , one differentiates between
Open Items in customer accounts are reconciled regularly with the incoming payments to overdue receivables urge to. Open items that represent liabilities are checked with the help of open item lists in order to monitor payment dates and to avoid interest on arrears due to late payment or to be able to receive a discount .
In small companies , the current account can also be managed with the help of open item accounting. During the year, the unpaid invoices are only available in document form and are not recorded in the accounting. The status of the receivables and liabilities on the balance sheet date only needs to be posted for the annual financial statements in the course of preparing the balance sheet . This open item accounting is recognized for tax purposes and is widespread in smaller industrial and trading companies .
The reconciliation of open items is also referred to as "clearing" because a number (number) in ascending order is assigned to each item and the associated counterpart. The number is stored in a separate field in all related posting lines and marks them as balanced or cleared. In principle, open items can only be cleared if the sums of the debit and credit amounts match, i.e. the total of all postings results in "zero".
The processing of open items is now handled by software .
Finance
In the financial sector , one speaks of an open position if there is no equally high and congruent passive (asset) position in the case of active ( passive ) risk positions. They are settled through close-out or settlement . An open position also exists if future payments ( payments ) are not offset by payments (payments) at the same time ( liquidity risk ).
literature
- Siegfried Schmolke, Manfred Deitermann, a. a .: Industrial accounting ICR. Financial accounting - analysis and criticism of the annual financial statements - cost and performance accounting . 38th edition. Winklers Verlag, 2009, ISBN 978-3-8045-6652-1 .
- Paul Wenzel: Accounting with SAP R / 3® . Vieweg + Teubner, 2001, p. 57 ( online ).
- Sabine Wucher: Quick start bookkeeping with SAP R / 3 . Haufe Verlag, Freiburg 2009, ISBN 978-3-448-08727-7 .
Individual evidence
- ↑ Eberhard Scheffler, Lexicon of Accounting , 2012, o. P.
- ↑ Wolfgang Eisele / Alois Paul Knobloch, Technique of operational accounting , 1980, p. 728
- ↑ Springer Fachmedien Wiesbaden (ed.), Compact Lexicon Economy , 2014, p. 408
- ↑ Michael Dittmar, MySAP® Financials I: Finanzwesen , Volume 1, 2004, p. 251 f.