Open Item Management in SAP FICO

The basic prerequisite for automatic clearing is that the accounts must be kept on an open item basis. Customer and vendor accounts are always kept on an open item basis. This lets you monitor your outstanding receivables and payables at any time. The open item management option, however, must be set for general ledger accounts. You would set this option, for example, for clearing accounts and bank sub-accounts in order to be able to track whether the business transactions posted to these accounts are closed yet.

Open item management ensures that all items that have not yet been cleared are available in the system. Only after every open item in a document is cleared can a document be archived.