Check Clearing G/L Account

What is the use of Check Clearing G/L Account? where do you define it in what scenario ?
thanks
Venkat

Checking Clearing Account as you see in the G/L Determination .. Sales Tab refers to a Clearing Account to which all Checks Received are posted to during the Incoming Payment Process.
In the Deposits step when you physically deposit the check the Clearing Account is Credited and the Bank Account is debited.
The balace showing in this Check Clearing account at any given time would represent un-deposited checks
Suda

Similar Messages

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