Posting to an Open Item Nominal Code
Whenever an open item nominal code is selected, an open item note will be processed and linked to the nominal transaction.
After creating and completing a posting the open item functionality will be instigated. Validation will take place against each line of the posting to determine whether the nominal code defined is set to open item. The open item pop-ups will appear when the nominal code for a transaction is set to open item.
The new open item processing screen allows for one posting to be taken but create and update multiple open items in one popup, thus reducing the time taken to process open items. The popup is available in all processes where Open Item functionality is available. This includes Cash Book Receipts and Payments, Purchase Ledger Invoices, Sales Ledger Invoices, Nominal Ledger Journals, Automatic Journals, Reversing Journals and Contras.
Using a Nominal Ledger Journal as an example, where debiting an open item code by £10,000.00 and six new open items are created; five for £1,000.00 each and one for £5,000.00. The process requires only one journal line (with its balancing posting) and then a single open item popup.
On completion of the journal the new open item popup will be loaded. The popup is split into three sections, an ‘Open Item Details’ section showing details of the posting to be completed, the ‘New Open Item’ section where new items can be created and the ‘Existing Open Items’ section where updates can be completed.
In the example above the six items have been added using the new open items section and the running total and remaining value area also presented, and in the existing open item section the reference filter criteria and arrow symbol which will clear the balance on the open item. When the popup is completed the new open items will be created and the 10,000.00 posting will be split out into six individual postings with corresponding amounts, the printed daybook will also reflect this.
Open items can be viewed in the nominal ledger enquiry routine. See Nominal Ledger Enquiry section for further details