Clearing accounts

[Former Member]

Please can anyone explain the remaning accounts too...

Input Tax clearing account for down payments

FICO Reconciliation account

Fixed Asset clearing account

Regards

[Former Member · Accepted solution]

Hi Kalyan,

GR/IR Account

Tax Payable Account

Cenvat Clearing account

CST Payble

LST Payable

VAT Payable

Cenvat Payable

Clearing Accounts: Those you need to clear line item wise you can maintain as clearing account

Theese are some accounts. As per your requirement you can create many more clearing accounts ex:, Bank accts.

Regards

Ashish :Jain

[Former Member · Accepted solution]

Hi

I understand the concept behind the clearing accounts but could you please explain the use of the following clearing accounts if possible with a small example

Input Tax clearing account for down payments

FICO Reconciliation account

Fixed Asset clearing account

Thanks