Subject Accounts

Subject Accounts

Here you can find descriptions of various processes which prove helpful in monitoring the status of outstanding customer or supplier items.

An outstanding item is a receivable or payable where the amount of the document does not match the amount paid. So outstanding item can be completely unpaid, partially unpaid or overpaid. In any case the Balance (debit - credit) of the linked document is not 0.

Having checked Close Outstanding Items by Departments and Cost Centers in the Administration Panel | Settings | Program Parameters | Financials | General closes item. That is, if it includes Department and Cost Center fields apart from those for account, subject, linked document, currency and amounts.

To monitor outstanding items see various overviews and reports:

• Outstanding Items report
• Balance Report of Customers and Suppliers
• Debt Structure

Balance out outstanding item in primary currency by:

• closing manually
• re-posting
• closing rounding differences
• closing cash discounts

Handling foreign currency posts that you can close it only in the currency in which it is made.

The balanced currency amount of the closed foreign currency line should be equivalent to 0 for the linked document, subject, account and currency.

If the payment has been made in a different currency than the one of the receivable/payable, then the item is outstanding even though debit and credit amounts (as well as subject and account) in the primary currency match those of the linked document. When closing foreign currency posts, try using the following procedures:

• closing manually in the currency used
• closing rounding differences in the currency used
• posting exchange differences of closed (settled) receivables or payables