Open Vs Closed in FICO document

Question

Dear Experts,
What determines an Open Vs Closed document for the following archiving objects.
1. FI_DOCUMNT
2. FI_SL_DATA
3. CO_ORDER
Thanks,
-Bharath

Answer 1

Hi
open items are are things which are out there and havent been paid.
example you sell a car to a customer , you would create an invoice asking
the customer to pay eg $10,000, you create the invoice in SAP, it will show up
as open( red light) , now the customer sends you a check for the car
so you apply that 10,000 against the 10,000 invoice so now
that he paid the amount the item is cleared( green light)
heres some help on open item managed and line item display
Open item management.  Select this box if you want to manage the account with open item management. Open item basis means that you want to view all individual line items that make up the balance of the account and clear individual line items with offsetting line items so that you can view both open and cleared items and amounts in an account. Open item managed should be used if an offsetting entry is made for every line item posted in the account  ( the account is reconciled and cleared against another account). A good example for the use of open item managed is for clearing accounts such as GR/IR account.
Line Item Display.  Select this box if you want to be able to see account balances by individual postings to the account. Be careful not to set this indicator on accounts with very large number of postings. If you selected Open item management indicator, this indicator should also be set. However setting this indicator does not require that you make the account open item managed.
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