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Monicka11's avatar
Monicka11
Contributing User
4 years ago
Solved

Electronic clearing account should go back to $0

Hi guys,    I believed that Electronic clearing account should go back to $0 when a payment is made for outstanding payments? If I'm to reconcile on monthly basis where do I get the closing stateme...
  • Tracey_H's avatar
    4 years ago

    Hi Monicka11 

     

    Thanks for your post. You're correct that clearing accounts should reconcile back to zero and it's a really good idea to do this on a regular basis.

     

    When reconciling a clearing account, enter $0.00 as the Closing Statement balance amount. Then tick the matching debit and credit transactions so the Calculated Statement balance and Out of balance figures are $0.00.

     

     

     

    Please let me know if you need further help.

     

    If my response has answered your enquiry please click "Accept as Solution" to assist other users find this information.

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