The clearing account is for moving the existing credit from the supplier.
- Go to the Lists menu, then select Chart of Accounts.
- Right-click anywhere in the Chart of Accounts then choose New.
- Once you are in the Add New Account window, choose Bank then select Continue.
- In the Account Name field, you can put in Clearing Account, Barter Account, or Wash Account.
- Leave the Opening Balance field blank, then select Save & Close
For a more detailed guide in creating clearing accounts, see Set up a clearing account.