What is clearing business area in SAP FI - Financial Accounting?

SAP Term: clearing business area

• Component: FI

• Component Name: Financial Accounting

• Description: An additional account assignment in a document that is used to calculate receivables and payables between business areas.

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• Key Concepts: 
  A Clearing Business Area is a special type of business area in SAP Financial Accounting (FI) that is used to manage the clearing of open items. It is used to clear open items from one company code to another, or from one account to another. The clearing business area is used to ensure that all open items are cleared and accounted for correctly. 
  
  How to use it: 
  To use the Clearing Business Area, you must first create a clearing document. This document will contain the details of the open items that need to be cleared. Once the document is created, you can then assign it to a Clearing Business Area. This will allow you to track and manage the clearing process. 
  
  Tips & Tricks: 
  When creating a Clearing Business Area, it is important to ensure that all of the necessary information is included in the document. This includes the details of the open items, as well as any additional information that may be required for the clearing process. Additionally, it is important to ensure that all of the necessary documents are attached to the Clearing Business Area before it is submitted for processing. 
  
  Related Information: 
  For more information on Clearing Business Areas in SAP Financial Accounting (FI), please refer to SAP Help documentation or contact your local SAP support team.