Electronic clearing account is not 0. after i did reconciliation
Hi team,
Just a confusing question about electronic clearing account. I did reconciliation for my normal bank account. And then I found the balance of electronic clearing account is not 0. And the total amount is payroll amount which I did pay run. And I checked journal entries, each employee's salary has been recorded by my normal bank account. So I don't know how to clean up electronic clearing account. Is there anyone help me with this problem? I am very confusing about this. Thanks!
Hi Zoey667,
Thank you for your response.
The amount in the electronic clearing account may be due to transactions not yet reconciled. It doesn't necessarily mean you didn't prepare an electronic payment. When you prepare electronic payments, it should offset the electronic clearing account.
Regarding your second question, if you've set your bank accounts for electronic payments to be linked with the electronic clearing account, after a pay run, it should appear in the prepare electronic payment function. When you proceed with preparing electronic payments, it's expected to reconcile and clear the electronic clearing account to 0.
If you have any more questions or need further assistance, feel free to reach out.
Cheers,
Princess