The clearing account is a dedicated service for cross-servicing companies.
Suppliers upload invoices to the clearing service, allowing them to settle against partner suppliers’ invoices within the same clearing party and period. At the end of each month, involved parties receive a report for automatic booking of cleared invoices and a payment request for any outstanding differences. All participants can access the ClearingPool environment to view and confirm the clearing for each period, along with reports that facilitate automatic payment booking.