Topic: Using a Bank Clearing Account with a Live Bank Feed
I just took over AP for a retail store and their previous bookkeeper did things as if it was still 1980.
Is there any point in using a Bank clearing Chart of accounts? and then moving it later (I suppose that is what you do?)
I set up the software to have the bank auto feeding into the account, and deposits are generally cleared in one day. Is there any point in still using a bank clearing?