A transaction that requires an item to be cleared.

The standard system contains a clearing transaction for each clearing function that creates documents. The clearing transactions are:

• Incoming payment

• Outgoing payment

• Transfer posting with clearing

The following overview lists the clearing transactions in the standard system and the functions used to post them.

To clear items against an incoming payment, you would use the Incoming payment clearing transaction. If you make a payment to a vendor, you would use the Outgoing payment clearing transaction.

There are two separate functions specially designed for each of these clearing transactions: Incoming payment and outgoing payment. Special screens are used for these functions. This makes processing open items much simpler. The fast entry function enables you to enter payment lots quickly. This function uses the posting key defined for the incoming payment clearing transaction.