Clearing Accounts (in Practice) 

Example: Work Accounts

·        Outstanding receivable accounts

Debits for closed accounts that cannot be rejected are posted to a work account. The customer clears the outstanding receivable with one or more payments. Remaining amounts are taken off the books if they are below a certain minimum, which has an effect on the net income.

·        Collective accounts

Due payments are transferred to a collective account and posted as one total to the target account.

·        Holding accounts

Items on CpD (suspense) accounts in AM that cannot be dealt with during a defined period of time are transfer posted to a work account for further processing. If they cannot be processed within a certain period of time, they are taken off the books, which has an affect on the net income. (You can use the function to take these off the books automatically and to clear them.)

Example: Interim Accounts

·        Clearing accounts for payment transactions

The supplying payment transaction system initially posts only the ordering party side. Since the target side is not yet posted, the offsetting posting is entered on a clearing account instead. The target sides are then posted against these offsetting account, so that it is cleared again.

·        Collection accounts

Collection papers that are provided for collection are, for example, not directly credited to the account of the payee so that risk is minimized. This money is credited to the payee account only once the transaction value has been received, and is debited from the collection account.

·        Disbursement accounts

Any remaining balance from account closures is posted to a disbursement account from which it can be paid out in cash to the customer.

·        Deposit accounts

Deposits on new accounts are posted to a deposit account until their technical opening. Once the account has been opened, these deposits are transfer posted to this account.