Hello there, Steven_ZA.
In QuickBooks, a clearing account is used to move money from one account to another without moving it directly. This is like a holding account that holds your fund until you’re ready to move it. This account is also called a Barter or Wash Account that has a balance of $0.00 because we always take out the amount we put in. Also, you won’t have to reconcile this account as this doesn’t hold any funds.
Also, if you need some references in the future, you can always access our site: Help articles for QuickBooks Online.
If you have other questions in mind, please place them here. Anytime I can help. Have a safe day ahead!
