What is clearing in SAP FI - Financial Accounting?

SAP Term: clearing

• Component: FI

• Component Name: Financial Accounting

• Description: Procedure by which the open items belonging to one or more accounts are indicated as cleared paid. Open items can be cleared if the credit amount used to clear the item equals the debit amount of the item to be cleared.

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• Key Concepts: 
  Clearing is a process in SAP Financial Accounting (FI) that allows for the offsetting of open items in accounts receivable and accounts payable. This process is used to reduce the number of open items in an account and to simplify the reconciliation process. Clearing can be done manually or automatically, depending on the company's preferences. 
  
  How to use it: 
  To manually clear open items, go to the Accounts Receivable or Accounts Payable menu in SAP FI. Select the open item you wish to clear and enter the clearing document number. The clearing document number is used to identify the document that is being used to offset the open item. Once the document is entered, the open item will be cleared from the account. 
  
  Tips & Tricks: 
  When manually clearing open items, it is important to ensure that all of the necessary information is entered correctly. This includes entering the correct clearing document number and ensuring that all of the amounts are correct. Additionally, it is important to ensure that all of the necessary documents are available for review if needed. 
  
  Related Information: 
  For more information on clearing in SAP FI, please refer to SAP Help documentation or contact your local SAP support team. Additionally, there are many online resources available that provide detailed instructions on how to use this feature in SAP FI.