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Categories >> Accounting >> Accounting AllOther


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what is zero balance clearing a/c. why we r maintaining 
this a/c in sap fico
 Question Submitted By :: Accounting-AllOther
I also faced this Question!!     Answer Posted By  
# 1
for document splitting purpose and for clearing account and
also debit item and credit item should be zero
Is This Answer Correct ?    0 Yes 2 No
# 2
As the name indicates it, a zero-balance clearing account is
a balance sheet account which is maintained for the purpose
of posting additional clearing entries in the event of the
documents are not balanced with the respect to different
dimensions used for your reporting such as profit center,
business area, segment, etc.
Is This Answer Correct ?    0 Yes 2 No
# 3
Zero balance clearing a/c is used for inter branch account.
it should be compoulsary zero balance.
Is This Answer Correct ?    3 Yes 11 No
# 4
Zero balance a/c is also known as salary account in which
the bank credits the amount to be recived by the employees
at the end of the month by debiting the employers account
it is done at the standing advice of the employeer
Is This Answer Correct ?    2 Yes 17 No
Ekhlaque Amin

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