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-   -   Cash Clearing account (https://www.askmehelpdesk.com/showthread.php?t=65435)

  • Feb 22, 2007, 06:51 PM
    accounting201
    Cash Clearing account
    New to accounting... what is a cash clearing account. What is it used for in conjunction with an accounts receivable accounts:(
  • Feb 5, 2009, 05:06 AM
    501608302
    New to accounting... what is a cash clearing account. What is it used for in conjunction with an accounts receivable accounts


    Deposits received from the customers daily are credited to the cash clearing account in order to perform daily bank reconciliations.
    The clearing account is credited as deposits are made and cleared at the end of each month by debiting the account :)
  • Feb 8, 2009, 05:05 PM
    1368

    How to calculate net income?
  • Feb 8, 2009, 10:25 PM
    codyman144
    Quote:
    Originally Posted by 1368 View Post
    How to calculate net income?
    Revenue - expenses = net income

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