on 04-22-2006 1:57 AM
Hi All,
What are clearing accounts and what is the purpose of the same.
Thanks
Dev
Dev93G
Definition
Account that temporarily stores postings. Clearing accounts are auxiliary accounts that exist for technical reasons and which are repeatedly cleared. Possible reasons for posting to a clearing account:
Time difference between business transactions (GR/IR clearing account)
Organizational task distribution (bank clearing account)
Business transactions requiring clarification
Use
You create clearing accounts to display receivables and payables between individual company codes. You define which clearing accounts to use in the system settings. There are two ways to do this:
You specify clearing accounts for each possible combination of company codes.
You use one company code for clearing. This company code is always entered first during document entry. In this case, you enter the clearing accounts for each combination of this company code with the other company codes.
Hope this helps
Thnaks
sat
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