Open item link feature may be activated for selected accounts in the Chart of accounts. This allows you to match credit transactions to specific debit transactions and vice versa. The Open item feature is used to manage and reconcile transactions in ledger accounts. 

The "Open item account" setting is not available for the following accounts:

Retained earnings / Retained income - This account reflect the Net profit/Net loss.

Debtors control - This account reflect the total of the individual debtor (customer / client) accounts in the general ledger. You may set selected debtor (customer / client) accounts as an "Open item account" on the Accounting information tab. 

Creditors control - This account reflect the total of the individual creditor (supplier / vendor) accounts in the general ledger. You may set selected creditor (supplier / vendor) accounts as an "Open item account" on the Accounting information tab.  

The "Open item link" for a specific ledger account may be opened with a double-click from the Totals tab or the Transactions tab on Open item link.

Some examples of such ledger accounts may be;

Advance accounts - You may wish to keep track and manage advances paid to an employee or salesperson for subsistence and travel. After the employee or salesperson returns from his trip, he return the expenses source documents and refund any unused monies. When processing these source documents in batches, etc., these transactions may be linked (matched) to the original advance.  

Suspense / Clearing accounts - When an transactions needs to be managed, matched or reconciled, etc.

Age analysis reports for "Open item" ledger accounts is introduced in TurboCASH5.2

Bank accounts should not be set to open item accounts. The allocation of transactions in the Receipts and Payments (batches) journals may be linked matched to specific transactions in the "Open item" ledger accounts, debtor (customer / client) accounts or creditor (supplier / vendor) accounts. 

Bank account transactions is reconciled to Bank statements in the Reconciliation option on the Action ribbon.

When processing transactions in batches and documents, the Open item link for a ledger account, may be launched to link and allocate or match transactions specific transactions for open item ledger accounts. Some of these options, is as follows:

1.Batch entry - Select transactions on the "Open item selection" screen when processing credit transactions for a specific ledger accounts and match them to debit transactions and visa versa.  

By default, the "Open item selection" feature is enabled in batches. The last column, i.e. "Open item", will be available in "Batch entry" screens. The "Open item selection" feature may be deactivated or activated in "Batch entry" screens

2.Batch entry - Once a ledger account is selected for a transaction on the "Batch entry" screen, you may right-click and choose the Select from account open item list option on the context menu. The "Open item selection" screen will list all the transactions with outstanding balances. You may select a specific outstanding transaction to link the transaction to. 

Example : Open item link - Unlinked Ledger transactions

A simple example of the "Sales" account, where no (or not all) credit transactions (e.g. Credit notes) were linked to specific debit transactions (e.g. Invoices), is as follows: 

open-item-ledger-account-unlinked

In this example, the debit section (top half) lists all the Credit notes not matched to Invoices.

If an Invoice or Credit note includes more than one stock item, e.g. Drill press and  Compressor (as in this example), you may link (match) the item on the Credit note  to a specific item on the Invoice. 

Example : Open item link - Unlinked Ledger transactions

An example of the "Sales" account where all credit transactions (e.g. Credit notes) were linked to specific debit transactions (e.g. Invoices), is as follows: 

open-item-ledger-account-linked

In this example, the debit section (top half) does not list any transactions. All Credit notes is linked to Invoices. 

Context menu

Right-click on a selected transaction on the list, to launch the context menu for the following processing options:

open-item-selected-account-context-menu

Filter options

 You may apply the following options to filter transactions:

open-item-selected-account-filter-options

Example : Open item link - Ledger - Statement 

The Statement option list all the transactions from a selected date up to the current date (or selected date. If the transactions on Credit notes and Invoices is matched for the full amount, a 0.00 (zero amount) will be displayed in the in the "Outstanding column".

If transactions is partially matched on an Invoice, the Outstanding amount will differ from the Invoice amount.   

open-item-ledger-account-statement

Context menu 

Right-click on a selected transaction on the list to "Unlink" selected transactions from the context menu.