In manual clearing, Bank statement details are to be matched manually considering certain rules. Learn the steps involved in manual clearing of bank transactions.
Manual Clearing
This method requires you to manually match bank statement details with system transactions.
The method is ideally suited to reconciling bank accounts that have a small volume of monthly transactions.
You need to also use the manual reconciliation method to reconcile any bank statement details that could not be reconciled automatically.
Steps in Manual Clearing
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Introduction to Cash Clearing Process
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Cash Clearing – Accounting Entries
The Cash Clearing process enables you to track amounts that have actually cleared your bank. Learn the steps and accounting entries that gets generated during the cash clearing process.
The Cash Clearing process enables you to track amounts that have actually cleared your bank. Till reconciliation happens the amounts are parked in 'Cash Clearing Account'.
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