Clearing Accounts 

Use

This function differs from posting with a clearing transaction or posting with a payment in the following ways:

●      You do not need to enter a document header

●      You can only clear open items from one account

Prerequisites

You can use this function to clear debits and credits that balance to zero (for example, invoices and payments that you have already entered).

Since internal transfer postings may have to be generated, a document type must be defined for clearing. To make this specification, select the activity Define Posting Keys for Clearing in the Implementation Guide for Accounts Receivable and Accounts Payable. The Maintain Accounting Configuration: Clearing Procedures - List screen appears. Select the transaction Transfer Posting with Clearing. A detailed screen appears. For each account type, you can specify a default document type to be used for posting a clearing document (if this is required for the clearing transaction).

Procedure

To clear an account, proceed as follows:

...

       1.      From the Accounts Receivable, Accounts Payable, or General Ledger menu, choose Account → Clear.

The screen for entering header data is displayed.

       2.      Enter the account number in the Account field and if necessary, also enter a currency key for the clearing document in the Currency field. If you do not enter a currency key, the company code local currency is used. The company code and clearing date is proposed by the system.

       3.      You have the option of searching for specific items for clearing. To do this, select a field (for example, Amount) and choose Enter. The next screen prompts you to specify which open items to select.

       4.      To display the open items for processing, choose Goto → Open items.

       5.      Process the open items as described in Open Item Processing.

       6.      Once the debits equal the credits, choose Account → Clear.

Result

The system assigns the clearing date and clearing document number to each open item cleared.