Entering and Processing Open Item Transactions

This topic discusses:

Use the Create Journal Entries menu option to enter and process open item transactions. Edit and post the transactions online or use the Process Posting option on the Process Journals menu.

Note: You cannot use open items with accounts that are value-added tax (VAT) enabled.

Page Name

Definition Name

Usage

Journal Entry - Header

JOURNAL_ENTRY1

Identity the Ledger Group that contains the Ledger used to track open items.

Journal Entry - Lines

JOURNAL_ENTRY2_IE

Create open item transactions by selecting the open item account and the open item key. You can also perform online editing and posting on this page.

Use the Journal Entry - Header page (JOURNAL_ENTRY1) to identity the Ledger Group that contains the Ledger used to track open items.

Navigation:

General Ledger > Journals > Journal Entry > Create/Update Journal Entries > Header

Use the Journal Entry - Lines page (JOURNAL_ENTRY2_IE) to create open item transactions by selecting the open item account and the open item key.

You can also perform online editing and posting on this page.

Navigation:

Journals > Journal Entry > Create/Update Journal Entries > Lines

To create open item transactions:

  1. Select the ledger group that contains the open item ledger.

  2. Access the Journal Entry - Lines page

  3. On line 1 enter or select the open item transaction parameters including the open item account, the amount, and the open item key.

  4. Add line 2 of the transaction.

  5. Save the transaction.

Note: If you did not enter or if you entered an incorrect open item key, a message appears when you add another line or attempt to save the transaction. Also, an open item account cannot be VAT enabled. If you have an existing open item account that is VAT enabled, access the account in Define ChartFields, Define Values - ChartField Values and remove the check mark from the Open Item Account check box, or change this account from a VAT Account to a Non-VAT Related account.

You can edit or post open item transactions online or in batches.

Note: If you select the Post Journal Process on the Creating Journal Entries - Lines page, the system checks the User Preferences - General Ledger page and uses the value specified for the Skip Open Item Reconciliation flag. If the check box is selected, the Open Item Reconciliation process is bypassed during the posting process and the open items are posted but not reconciled. However, if you run the Journal Post process (GL_JP) from the Journal Post - Request page, you must select the Skip Open Item Reconciliation field on the page.