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Hi there, @jake-r-elstone.
It's my pleasure to explain to you what the clear payment option in QuickBooks Online is for.
Clicking the Clear Payment button on the Bill Payment will make the transaction zero or clear, and the bill active again.
See the screenshot below.
I've attached articles about paying bills through the Pay bill feature and other related topics.
- What to do if you see unapplied cash bill payment expense on your profit and loss
- Enter and pay bills
Post again in the Community if you need anything else. I’ll be here to help. Take care!