Clearing Account | Why Your Ecommerce Accounting System Needs This

Clearing Account | Why Your Ecommerce Accounting System Needs This This video talks about clearing accounts – what they are and why you need them. You may already be familiar with the concept of a clearing account if you’ve used Undeposited Funds in QuickBooks. For ecommerce businesses, the concept is the same. If you have…

Clearing Account | Why Your Ecommerce Accounting System Needs This

Clearing Account | Why Your Ecommerce Accounting System Needs This

This video talks about clearing accounts – what they are and why you need them. You may already be familiar with the concept of a clearing account if you’ve used Undeposited Funds in QuickBooks. For ecommerce businesses, the concept is the same. If you have made sales with a shopping cart with the deposit in transit, you don’t want the individual transactions cluttering up your bank account. These transactions should live in their own clearing account for easier identification and reconciliation.

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https://www.youtube.com/watch?v=d3SeytAl6DU&feature=youtu.be