Open orders are orders in various operations statuses, such as first follow up or shipped, but are incomplete in accounting.
⚠️ Alert!
If open orders are not routinely reviewed and addressed, there is a risk of ballooning pre-paid purchases, lingering costs, implications on commissions, and potential for outstanding billing.
💡 Tip!
Here is a list of common accounting statuses for open orders:
Open: No customer invoices processed.
Vouched: Customer invoice in ready state.
Partly-Vouched: Partially invoiced to customer.
Rec-Not-Vchd: Received not vouched. Ensure customer invoice is processed.
Vchd-Not-Rec: Vouched not received. Review the receiving journal.
- Click on Management Overview
There are multiple ways to evaluate open orders. One way is to pull reports from the Management Overview dashboard, which can be found in the Accounting Module.
- Expand Open Orders
In the open order section, click on the "+" icon to access the detail.
- Click on spreadsheet
In the right corned, click on the spreadsheet icon to pull down the report in excel format.
- Click on Orders
Another way to review open orders is to access the order reports. In the Reports Module, click on Orders.
- Click on OR-1060
Pull the OR-1060 report, which provides a list of all open orders. You will need to specify a date range, where as the aforementioned reports pull all dates.
- Click on Open Orders
In the main navigation menu, select the Accounting Module and click on "Open Orders".
- Click on See GL Allocation
Select the spreadsheet icon for another report of open orders. To review the GL allocation for the order, click on the link "GL Allocation".
💡 Tip!
If the GL Allocation link is red, it means an adjusting entry will be made.
- Click on Vouching Information
A new tab will open and you can view the order, including vouching information.
- Select Orders to Complete
As you decide orders are complete, click on the check box next to each order to close.
- Click on Complete / Post to Open Adj. Jrnl
Click on the "Selected" tab and in the right corner click on the green button "Complete/Post to Open Adjusting Journal". Then click "Finish".
- Click on Close Current Adjusting Journal
To post the adjusting journal entries, navigate to "Open Adjusting Journal" in the black ribbon menu and click on "Close Current Adjusting Journal". Then, click close. This finalizes completing the open order.
