Learn the process to create a clearing account in QuickBooks

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Well, you have already known about QuickBooks software and it’s amazing functions. Sometimes, you need to create multiple accounts in QuickBooks. Today, we are here to tell you about a clearing account that needs to be created to move money from one account to another. The information provided in the following article appears to be suited for a clearing account in QuickBooks. You can get all the aspects related to a clearing account in this article. So you have to be connected with us through this blog.
Now, we can proceed further and understand a payroll clearing account in QuickBooks and its uses.
What is a clearing account?
Before knowing the steps to create a clearing account, you first must know what a clearing account is. This account will help you to move money from one account to another account in case of unable to move money directly. A clearing account usually contains a balance of $0.00 since you will be able to take back the amount that you transfer in it. This account is also called a Barter or wash account.

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Sign in to your QuickBooks account and go to Accounting on the left-side panel.
Select Chart of Accounts.
On the Chart of Accounts screen, click the New tab.
Choose Bank for the Account Type. ...
Type in the Name for the clearing account.