Expense Clearing A/C:when it occur?

[former_member694161]

Dear All,

I would like to know when the expense clearing A/C under tab: inventory of a/c determination occur in the system.

thanks in advance.

[former_member186095 · Accepted solution]

Hello,

In the glossary pdf file of SAP B1 2005A, clearing account definition is :

An account to which postings are recorded temporarily.

Clearing accounts are auxiliary accounts that exist for technical reasons and which are cleared repeatedly.

• Postings may need to be made to a clearing account because of:

• A time gap between accounting transactions (GR/IR clearing account)

• Organizational task distribution (bank clearing account)

• Accounting transactions requiring clarification

Rgds,

[Former Member]

That's correct. In UK this would usually be used as a temporary account for uncleared cheques or payments received from customers. Once the funds have cleared you would debit the clearing account and credit the customer's account.

[former_member583013]

EXPENSE CLEARING ACCOUNT is an offsetting G/L account for clearing journal entries created by A/P invoices and goods receipt POs. This G/L account is used in journal entries whenever the allocation account is also involved.

[former_member186095]

Hello,

What I know is that the clearing account is used for cost of sales and expense record of non inventory item here. You use it when record the transaction involving non inventory item to general ledger. To know it, you can see the itemtype field in the item master data.

Rgds,