Open items creditor - What are open items creditor?
Definition: any supplier invoices that have yet to be paid and can also include any supplier payments, which may have been posted to the supplier ledger card, but not matched against the supplier invoice/invoices the payment relates to e.g. payments on account.
When you run your aged creditor report at any given date the report will show all invoices that are unpaid at that date along with any supplier payments which have not been matched with the invoice. This report should be a mirror image of the Creditor Control Account in the balance sheet.
Clear unmatched supplier payments
It is important to clear any unmatched supplier payments especially if you are using the Cash Accounting VAT Scheme in your e-conomic agreement, as this is the trigger in sending the VAT element to your VAT return.
If you have processed a supplier invoice in a different currency to your base (please note that the supplier payment must also be processed in the same currency as your supplier invoice) by matching the invoice to the receipt the system automatically generates the exchange gain/loss and posts the amount for you.