In Customizing for external accounts under  Transaction Manager General Settings Define Product Type for External Account Positions , you first have to create a product type (for product category 690External Accounts) for the positions on the external accounts.

In the activity  External Accounts Define Account Assignment Reference Determination (External Accounts) , you can define rules for automatically determining account assignment references for your external account positions in the parallel valuation areas. To be able to make postings to a clearing position, you need to assign an account assignment reference to each clearing account position. The system assigns the account assignment references automatically when you post a flow to the clearing account for the first time using the function Post Flows (TREA) [transaction TREA_POST_FLOWS]. The assignment is made on the basis of the rules that you define in this Customizing activity.

In the activity  External Accounts Central Counterparty Clearing Activate Central Counterparty Clearing , you have to activate clearing for your relevant financial transactions specifically for the company code, product type, and transaction type. You can choose between the following clearing options:

Under  External Accounts Central Counterparty Clearing Update Types , you first need to call the Customizing activity Define Update Types and Assign Usages, create all update types that are required for central counterparty clearing, and assign them to the usage External Account: Central Counterparty Clearing.

In the activity Specify Update Types for Central Counterparty Clearing, you need to assign the flow category to these update types. You also need to select the Aggregation-Relevant checkbox. With this checkbox, you can decide for each update type of the external account whether the flows of that update type are relevant for aggregation.

In the activity Assign Update Types for Clearing Account Positions, you have to assign update types for the transaction-dependent variation margins and fees. This is because the transaction-dependent flows need to be visible on the assignment position as well as on the clearing account position.

In the activity Assign Update Types for Net Payment, you assign an update type for an outgoing net payment and an update type for an incoming net payment.

In the activity  Transaction Manager General Settings Accounting Link to Other Accounting Components Define Account Determination , you have to define how accounts are determined for the update types that are relevant for posting. For posting flows, you need to create a new account symbol (such as 9.9CCC Technical Clearing) and assign to it the posting type Central Clearing Posting in Payment Currency. Furthermore, you create new posting specifications for the postings made with these accounts. You then assign these posting specifications to the update types. In the activity Assignment of G/L Accounts to Account Symbols, you then assign G/L accounts (which, technically, are clearing accounts) to the new account symbol, possibly on the basis of your account assignment references. You need to have created the G/L accounts beforehand in Financial Accounting.

See also: Posting Logic for Flows on Clearing Accounts