Glossary
What is clearing account?
A clearing account is a temporary general-ledger account where settlement and payout activity lands before it is matched, fees are separated, and the net is swept to the bank. For multi-channel reconciliation it is the structurally correct place to hold a payout until every line is explained and posted.
The definition
Clearing account explained
When a marketplace or processor deposits a netted payout, the money cannot go straight to revenue or straight to the bank account without distorting the books. A per-channel clearing account holds that activity in one place so finance can match each line to its order, isolate the fees and reserves, and then move the true net to the bank, leaving a clean, auditable trail behind.
The clearing-account approach is the only one that keeps accounting integrity at scale, but done by hand it carries a heavy labor tax: evidence custody, schema-drift upkeep, and a matching gauntlet every period. A governed reconciliation workflow keeps the clearing-account structure and removes the manual discipline, so the account stays accurate without consuming the finance team's week.
Where this shows up at Altura
FAQ
Frequently asked question
See also
Related terms
Related terms that come up in the same workflows.
01
Settlement reconciliation
Settlement reconciliation is the process of proving that each marketplace remittance statement and payout deposit matches the underlying orders, refunds, fees, reserves, and adjustments in NetSuite. It is not the statement itself. It is not the bank transfer event; it is the governed matching workflow that explains variances before finance posts the close.
Read the definition02
Net deposit
A net deposit is the single amount a marketplace or processor actually transfers to the bank after netting its fees, refunds, reserves, and adjustments against gross sales. Because it summarizes many transactions into one number, the net deposit is an input to reconciliation, not proof that the underlying activity has been matched or explained.
Read the definition03
Month-end close automation
Month-end close automation converts the manual, repetitive parts of closing the books (reconciliations, evidence gathering, report rebuilds, exception reviews) into a governed, repeatable workflow in NetSuite. The goal is a close that ties out without needing explanation, with human sign-off retained where judgment and risk matter.
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