Bank Accounts and Bank Subaccounts: Example
You settled a payable amounting to 5,000 USD by check. The payment was posted to the subaccount for outgoing checks and to the vendor account (see the figure below). The payable on the vendor account was cleared with this procedure.
After the check amount is actually debited from your bank account, you post it to the corresponding G/L bank account and select the corresponding check on the outgoing checks account (see the figure above).
During clearing, the system posts the amount to the bank subaccount "outgoing checks" and clears the posted item on this account.
The check is now marked as cashed. Your G/L bank account only contains those amounts which have actually been debited from your bank account.