What is open items? Meaning and explanation

An invoice remains an open item until a payment or credit note for the same amount is set against it. With a partial payment, the remainder stays open. A payment not linked to an invoice is also an open item, for example a prepayment or a receipt that was booked incorrectly. The list of open items per customer or supplier is the basis for reminders, payment proposals and the balances on the balance sheet.

For a firm, a clean list of open items is a mark of a well-kept administration. Items that were paid long ago but never reconciled distort the picture: the client sees debts or receivables that do not exist, and reminders go to customers who have already paid. At the month-end and year-end close, open items are therefore reviewed and investigated where necessary.

Autoboeker links bank lines to open items, with well-founded proposals and flagged deviations, and reconciles automatically above your confidence threshold. Partial payments, credit notes, payment arrangements and foreign currencies are recognised. Bank matching is available for Exact Online, Twinfield and SnelStart. In the invoicing module you can also see which invoices are paid, open or overdue.