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Hey there, @tamk161.
We're glad to have you here in the Community. Let's get a handle on what "payroll clearing" means in a transaction report.
To determine the best explanation on this term, I'll need you to provide me with what type of transaction report you're using.
Once you've given me this information I'll be able to better assist you. I'll be waiting for your response.
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It's on my yearly balance sheet
what is payroll clearing on my yearly balance sheet
Thank you for the response, @tamk161.
Payroll Clearing is a default liability account for your payroll liabilities, such as taxes and deductions you withhold from your employees' pay.
See the following article to know more about the balance sheet report: What is a Balance Sheet report?. In case you'll encounter problems with this report in the future, here's an FAQ: Basic troubleshooting for balance sheets article.
Let us know if you need further help with your balance sheet report. We're always here to assist. Have a wonderful day!