Open items list
All open items - clearly laid out in one place
Your company places particular demands on the way open items are managed and analysed. That is why we give you maximum flexibility in creating and managing your open items list. You can choose between several options, matched precisely to your processes and systems: from creating individual entries by hand, through a simple CSV import, to seamless integration with your existing invoicing tool or ERP system. This complete overview simplifies the management and monitoring of open items and streamlines the workflows within OPOS accounting.
That reduces the risk of human error to a minimum and makes sure no overdue item is overlooked. Proactive alerts let companies react to payment delays in good time and chase outstanding invoices.
Monitor open items & read the OPOS list correctly
Outstanding payments are presented in a clearly laid out list.
Overdue invoices are detected automatically and marked in red.
The status of an invoice is additionally shown in colour and can be handled flexibly. An invoice-already-paid note gives you an overview of the transactions that went through.
The open items list as the basis of the cash flow plan
Already have a cash flow plan? By creating the open items list you gain certainty about reaching your targets!
No cash flow plan yet? COMMITLY transfers your outstanding receivables into a standard template and thereby creates the first draft of your cash flow planning automatically!
For companies, using software with built-in open items management is an important step towards professionalising financial processes and automating accounting.
Clear open items – OPOS accounting made easy
Clearing open items – that is, noting whether an invoice has already been paid – happens through direct integrations after the payment via the connected system. Finance managers get a realistic picture of the funds to expect, because the open items list is updated continuously. That allows a more accurate cash flow forecast for strategic planning and decision-making in liquidity management.
With COMMITLY you can optionally match open items and receive a summary of the invoices that have already been paid.
AT A GLANCE
What is an open items list?
Open items have a considerable influence on the financial health and stability of a company. They arise when goods or services have changed hands but the financial settlement is still outstanding. The result is unpaid receivables and payables that stay in a company's books as an open items list (OP list, OPOS list, or accounts receivable and accounts payable list) until they are finally settled.
Open items fall into two categories: receivable items, that is amounts customers owe the company, and payable items, that is amounts the company owes its suppliers.
Outstanding payables are carried in the accounts as unsettled until the corresponding payment has been made. Although every accounting team aims to record transactions promptly and completely, open items point to a financial interaction that has not yet been concluded. They show that something in return, whether a payment or a delivery, is still outstanding.
The data in the open items list therefore also plays an important role in the annual financial statements, helping to give an accurate picture of the company's financial position.
Why does good open items management matter so much?
Managing the open items list plays a large part in the financial well-being and the liquidity of a company. Prudent accounts receivable management influences the amount of working capital available to a company. The faster receivables are collected and payables settled, the better the liquidity position. If only a few payments are outstanding, that signals that the company operates efficiently and is therefore financially healthy. Avoiding liquidity shortfalls is one of the many benefits of well thought-out open items management. Excessively delayed payment of receivables can seriously impair liquidity, and with it the ability to meet short-term obligations.
In extreme cases, neglecting this area can even drive a company into insolvency. Good open items management also makes it possible to actively minimise payment defaults and improve cash flow. Another aspect is protecting the company's reputation. Late payments to suppliers can damage long-standing business relationships and put the creditworthiness of the business at risk. Reliable receivables management also strengthens the trust of business partners. That is particularly decisive for the success of the company and for maintaining a healthy commercial relationship.
Open items list, cash flow planning and cash flow analysis: how do they fit together?
A precise and regularly maintained open items list allows funds to be managed efficiently. It contributes directly to cash flow optimisation by enabling companies to keep an eye on receivables and payables, collect them on time and settle them strategically. That supports the stable liquidity reserve that day-to-day business depends on. At the same time, systematic receivables management lets you meet your payment obligations without unwanted delays or extra costs and default interest.
Another aspect that is often underestimated is the better predictability and steering of cash flow that the open items list provides. Analysing this list regularly makes it possible to identify potential liquidity shortfalls early and to take countermeasures in good time, securing the financial stability of the company. Seasonal swings in receivables management can be absorbed this way, for example, or reserves built up for demanding periods. Forward-looking open items accounting helps here to spot patterns such as recurring late payments by particular customers and to act preventively on that basis. Insights like these are especially valuable because they give concrete pointers to liquidity risks, but also to liquidity potential, and those form the basis for robust and adaptable financial planning.
Managing open items – not just a question for accounting
Managing open items concerns far more departments than accounting alone – sales and customer service in particular play an important part in the process. Close coordination and clear lines of communication between these areas allow potential payment defaults to be recognised in time and tackled proactively. OPOS accounting can, for example, inform sales about outstanding receivables, so that the sales team can hold targeted conversations with customers, find solutions and adjust payment terms. That does not only support the liquidity of the company, it also fosters a long-term, stable relationship with customers.
Transparent communication about open items has a positive effect on customer loyalty. Companies that regularly send their customers status reports on outstanding invoices and offer alternative payment plans where needed show that they are willing to cooperate, and they build trust. Customers value that openness and flexibility, especially in demanding financial situations, which strengthens satisfaction and loyalty over the long term.
Bringing sales and customer service into open items accounting makes communication about payment terms and deadlines a fixed part of customer care. A well-maintained and clearly laid out OPOS list allows customer service staff to answer enquiries quickly and reliably, which improves service and deepens customer loyalty. This cross-departmental collaboration turns managing the open items list into a valuable part of customer relationship management and ensures that an outstanding balance is seen not merely as an accounting figure but as part of a comprehensive customer strategy.
