What is clearing account in SAP FS-AM - Account Management?

SAP Term: clearing account

• Component: FS-AM

• Component Name: Account Management

• Description: An account in which incoming payments for a loan account are managed. The clearing account is assigned to the loan account in its master data.

Smart SAP Assistant

• Key Concepts: 
  A clearing account is a type of account used in SAP Financial Services Account Management (FS-AM) to reconcile the differences between two accounts. It is used to offset the differences between two accounts, such as when one account has a debit balance and the other has a credit balance. The clearing account is used to transfer the difference between the two accounts, thus balancing them out. 
  
  How to use it: 
  In order to use a clearing account, you must first create it in SAP FS-AM. Once created, you can then assign it to the two accounts that need to be reconciled. When you enter a transaction into one of the accounts, the system will automatically transfer the difference between the two accounts into the clearing account. This will ensure that both accounts are balanced and reconciled. 
  
  Tips & Tricks: 
  When using a clearing account, it is important to ensure that all transactions are entered correctly into both accounts. This will ensure that the system can accurately transfer the difference between the two accounts into the clearing account. Additionally, it is important to regularly check and monitor the clearing account to ensure that all transactions are properly accounted for. 
  
  Related Information: 
  For more information on how to use a clearing account in SAP FS-AM, please refer to SAP's official documentation on Account Management. Additionally, there are many online tutorials and resources available that provide step-by-step instructions on how to set up and use a clearing account in SAP FS-AM.