Ensure payment of all your invoices

Open item list

The precise recording and monitoring of open items are crucial for financial accounting, but also for cash flow management in particular. They have a direct influence on the Cash position and therefore on the financial health of a company.

Manage open items list - quite simply with COMMITLY. The tool offers an intuitive way to record and track open items and automatically reconcile them after payment. This keeps the list up to date at all times and makes it easier to maintain an overview - and therefore also financial planning and cash flow management on a day-to-day basis.

All open items - clearly arranged in one place

Your company has special requirements when it comes to managing and analyzing open items. For this reason, we offer you maximum flexibility in the creation and management of your open item list. You can choose between various options that are precisely tailored to your processes and systems: from manual creation of individual entries to simple CSV import and seamless integration with your existing invoicing tool or ERP system. This comprehensive overview simplifies the management and monitoring of open items and optimizes workflows within OPOS accounting.

This reduces the risk of human error to a minimum and ensures that no overdue items are overlooked. Proactive warning functions allow companies to react to payment delays in good time and claim outstanding invoices.

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Monitor open items & read OPOS list correctly

Outstanding payments are displayed in a clear list.

Overdue invoices are automatically recognized and marked in red.

The status of the invoices is also displayed in color and can be managed flexibly. An invoice-ready-paid note provides an overview of successful transactions.

Open item list as the basis of the cash flow plan

You already have a Cash flow plan? Through the creation of the open items list you get certainty about your target achievement!

Don't have a cash flow plan yet? COMMITLY transfers the outstanding receivables into a standard template and automatically creates the first draft of Cash flow planning for you!

For companies, the use of software with integrated open item management is an important step towards the professionalization of financial processes and the automation of accounting.

Clearing open items - OPOS accounting made easy

Clearing open items - i.e. noting whether an invoice has already been paid - is done through direct integrations after payment via the connected system. Financial managers receive a realistic picture of the expected funds by displaying the open items list is continuously updated. This enables a more accurate cash flow forecast for strategic planning and decision-making in liquidity management. liquidity management made possible.

With COMMITLY you can optionally allocate open items and receive a summary of invoices that have already been paid.

AT A GLANCE

What is an open item list?

Open items have a major impact on the financial health and stability of a company. They arise when an exchange of goods or services has taken place but the financial settlement is still outstanding. The result is unpaid receivables and payables that remain on the books until they are finally settled. open item list (OP list, OPOS list or accounts receivable and accounts payable list) in a company's books until they are finally settled.

OPs can be divided into two categories: debit items, i.e. amounts that customers owe the company, and credit items, i.e. amounts that the company owes its suppliers.

Outstanding liabilities are recorded in the accounts as outstanding until the corresponding payment has been made. Although every accounting system strives to record transactions promptly and completely, open items indicate a financial interaction that has not yet been completed. They indicate that consideration, whether in the form of payment or delivery, is still outstanding.

As a result, the data in the open items list also in the annual financial statements financial statements by helping to provide an accurate picture of the company's financial position.

Why is good OR management so important?

The management of the open items list plays a major role in the financial well-being and Cash position of a company. Prudent accounts receivable management influences the amount of working capital available to a company. The faster receivables are collected and liabilities are settled, the better the liquidity situation. If only a few payments are outstanding, this indicates that the company is operating efficiently and is therefore financially healthy. Avoiding liquidity bottlenecks is one of the many advantages of sophisticated management of outstanding items. Excessively delayed payments of receivables can significantly impair Cash position and thus the ability to meet short-term obligations.

In extreme cases, neglecting this area can even lead to the insolvency of the company. In addition, good open item management actively minimize payment defaults and improve improve cash flow. Another aspect is the protection of the company's reputation. Late payments to suppliers can damage long-term business relationships and jeopardize the company's creditworthiness. In addition, reliable receivables management strengthens the trust of business partners. This is particularly important for the success of the company and the maintenance of a healthy, economic relationship.

Open item list, Cash flow planning and cash flow analysis: how are they connected?

A precise and regularly maintained open items list enables efficient management of financial resources. It contributes directly to cash flow optimization by enabling companies to keep an eye on receivables and liabilities, collect them on time and settle them strategically. This promotes a stable liquidity reserve that is essential for day-to-day business. liquidity reserve. At the same time, you can meet your payment obligations without unwanted delays or additional costs and interest on arrears thanks to systematic receivables management.

Another often underestimated aspect is the improved predictability and control of cash flow through the open items list. Regular analyses of this list make it possible to liquidity bottlenecks and to take appropriate countermeasures in good time to ensure the financial stability of the company. For example, seasonal fluctuations in receivables management can be absorbed or reserves can be formed for challenging periods. A forward-looking open item accounting is helpful in recognizing patterns such as recurring payment delays by certain customers and taking preventative action on this basis. Such insights are particularly valuable as they provide concrete indications of liquidity risks and potential, which form the basis for resilient and adaptable financial planning.

Managing open items - not just a question of accounting

The management of open items affects far more departments than just accounting - sales and customer service in particular play an important role in this process. Through close coordination and clear communication channels between these areas, potential payment defaults can be identified in good time and addressed proactively. For example, the OPOS accounting can inform the sales department about outstanding receivables so that the sales team can hold targeted discussions with customers to find solutions and adjust payment terms. This not only supports the company's Cash position , but also promotes a long-term and stable relationship with customers.

Transparent communication about outstanding items has a positive effect on customer loyalty. Companies that provide their customers with regular status reports on outstanding invoices and offer alternative payment plans if required demonstrate their willingness to cooperate and create trust. Customers appreciate this openness and flexibility, especially in challenging financial situations, which strengthens satisfaction and loyalty in the long term.

By integrating sales and customer service into open item accounting communication about payment terms and deadlines becomes an integral part of customer service. A well-maintained and clearly arranged OPOS list enables customer service staff to provide information quickly and reliably in response to inquiries in order to improve service and intensify customer loyalty. This cross-departmental collaboration makes managing the open item list a valuable part of customer relationship management and ensures that an open balance is not just seen as an accounting figure, but as part of a comprehensive customer strategy.

Cash flow planning made easy - All decisions firmly under control.

COMMITLY is your software tool for better cash flow management - developed by financial experts and entrepreneurs who know what is important when it comes to cash flow and Cash flow planning.