Outstanding Items (OPOS) These are receivables or payables within Bookkeeping that have not yet been fully settled. They show which amounts are still outstanding from customers or still need to be paid to suppliers and other creditors.
What does OPOS mean?
The abbreviation OPOS stands for open items. This refers to booking items for which an outstanding amount still exists.
open items typically arise in connection with invoices and remain in place until the respective amount has been paid in full.
In accounting systems, this information is often summarised in an open items list or open items list.
Accounts receivable and accounts payable open items
open items can affect both receivables and payables:
- Customer open items: receivables from customers or other debtors that have not yet been fully settled
- Creditor open items: trade payables or other creditors not yet fully settled
Trade receivables open items are therefore closely related to the Debtors ledger, creditor open items with the Accounts payable.
When is an open item cleared?
An open item remains in existence as long as there is still a residual amount to be cleared. Clearance can be effected, for example, by a payment, a credit note, or a corresponding offset.
With a partial payment, the open amount is merely reduced. The remaining balance continues to exist as an open item.
Open, due and overdue – what is the difference?
An open item is not automatically due or overdue. A customer receivable can already be managed as an open item even though the agreed payment term has not yet been reached.
For further processing, it must therefore additionally be checked when the claim falls due and whether the payment period has already been exceeded.
In short: „Open“ describes the accounting settlement status – „due“ and „overdue“ refer to the timing of the payment owed.
OPOS and receivables management – what is the difference?
open items represent the accounting status of not yet balanced receivables or payables.
The Debt management by contrast, describes the overarching monitoring and management of the customer receivables portfolio.
OPOS and Dunning process – what is the difference?
The Revenue Service relates to the processing of due customer receivables that have not yet been settled.
A open items list can provide information on existing receivables and their outstanding amount. However, a single open item does not necessarily mean that a reminder is already required.
