Open Item Accounts Receivable
Written by Brandy Burch
Updated at April 10th, 2025
Table of Contents
Balance Forward or Open Item?
Accounts Receivable Open Item is an optional feature of the system that can be purchased if you already have the A/R module. If you are a new PakEnergy Accounting client, the Open Item is now a part of the module. This tracks each invoice entered and keeps an accurate record of which invoices remain unpaid. The Aged Trial Balance can list each outstanding invoice by customer or summarize the invoices by customer.
The statements can be printed in one of two ways:
- Balance Forward type format, which shows the beginning balance, all additional invoices and payments, and the balance due, or the
-
Open Item format, which prints only the outstanding invoices for the customer.
- The outstanding invoices will continue to print on their statements, regardless of the age of the invoice, until they are paid.
The following table highlights the difference between A/R Balance Forward and A/R Open Item.
| Feature | Balance Forward (standard A/R) | Open Item |
| Application of Payments: | Automatically applies payment to the oldest invoice. | Manually apply payment to one or more specific invoice(s). |
| Paid Date | There is no paid date on entries until the A/R account is zero. | The paid date is on each invoice once it is paid in full. |
| Statements | Lists Starting Balance from the previous month plus the current month's activity. | Statements list all outstanding (unpaid) invoices; or can use Balance Forward format. |
The system has some Smart Logic that allows users to auto-apply payments if possible. For example, if the customer payment is for one invoice only and is being paid in full, the system will automatically apply the payment to the correct invoice. If there is more than one invoice with the same dollar amount, the system will apply to the oldest invoice.
If the customer has grouped several invoices in one payment, the system will automatically apply the payment to the invoices that sum the payment.
If the customer pays a partial payment on an invoice, the system will not auto-apply the payment but allow you to enter the partially paid amount on the proper invoice.
Before saving, the payment must be applied entirely (i.e., the UnApplied box is 0.00).
[F10] to save information in the Lookup Window after payment is applied. You will end up back at the Enter Deposit screen to finish entering the remainder of the information on the deposit.
Hint: When unposting a deposit, all Open Items applied will be retained.
TECH TIP: To clear a credit and debit deposit for an open item that results in a zero deposit. Enter the customer, the number that will act as a check number, and zero in the Cash Amount field. Enter the account, account description, and Sub-Account if needed. The income amount of zero should be prefilled. When the Open Item box opens, enter the dollar amount for the two offsetting invoices and save. Continue with the rest of the deposit as usual.