What is 'open balance' in SAP SBO - SAP Business One?

open balance - Overview

• Component: SBO

• Component Name: SAP Business One

• Description: The amount in a document that has not yet been reconciled with any other document.

open balance - Details

• 
  Key Concepts: 
  Open Balance is a term used in SAP Business One (SBO) to refer to the amount of money that is owed by a customer or vendor. It is the difference between the total amount of money that has been invoiced and the total amount of money that has been paid. 
  
  How to use it: 
  In SBO, open balance can be used to track customer and vendor accounts. It is important to keep track of open balances in order to ensure that customers and vendors are paying their invoices on time. Open balance can be viewed in the Accounts Receivable and Accounts Payable windows. 
  
  Tips & Tricks: 
  It is important to regularly review open balances in order to ensure that customers and vendors are paying their invoices on time. If an open balance is not paid within a certain period of time, it may be necessary to take action such as sending a reminder or taking legal action. 
  
  Related Information: 
  Open balance is related to other terms such as Accounts Receivable, Accounts Payable, and Invoices. It is important to understand how these terms are related in order to effectively manage customer and vendor accounts.