What is a payroll-clearing account?

Answer A payroll-clearing account is a business checking account set up specifically to handle payroll and payroll-related transactions, such as paying taxes and garnishments. The reasons for the setting ... Read More »

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What Is a Clearing Account in Accounting?

Financial accounts in the general ledger hold information relating to a company's business transactions. Many different types of accounts exist in the general ledger. A specific account companies c... Read More »

How to Cash A Payroll Check Without a Bank Account?

Many employers offer their employees direct deposit rather than the traditional paper check. Direct deposit electronically deposits pay into a bank account designated by the employee each pay date.... Read More »

What Is a Clearing Number?

A clearing number is a banking term that refers to a code used in clearing checks. Each clearing number represents a specific bank. The term is typically used in Europe and is equivalent to the ban... Read More »

What Is a Clearing Agreement?

Clearing agreements mean two broad and very different things: Clearing member trade agreements and bilateral clearing agreements. Clearing member trade agreements are between an investor and a brok... Read More »