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Clearing automatically syncs transactions from linked bank accounts and credit cards, but you'll sometimes need to add one manually, like a cash payment, a one off adjustment, or a journal entry for trust accounting purposes.
Manually creating a transaction gives you control over markup calculation, asset assignment, merchant selection, booking ID, homeowner allocation, and receipt uploads, so your records stay accurate and organized.
Steps to Manually Create a Transaction or Journal Entry
Step 1: Access the Transaction Section in Clearing
Log in to your Clearing account and navigate to the "Transactions" section.
Here, click on the "New transaction" option to manually create a new transaction or journal entry.
Step 2: Choose the Transaction Type
Once in the new transaction entry interface, select whether you are entering an:
Expense Entry – For recording expense costs such as property repairs, maintenance, or service fees.
Income Entry – For logging money received from guests, homeowners, or other sources. Often this is due to upselling services during the guest's stay.
Step 3: Enter Transaction Details
Fill in the required details, ensuring accuracy in financial records:
Transaction Date – Select the date the transaction took place.
Transaction Amount – Enter the correct amount, whether for an expense or an income.
Pass-Through Transactions – Mark transactions as pass-through if the transaction didn't occur through one of your connected bank accounts or credit cards.
Markup Calculation – If applicable, add a markup percentage and calculate the amount, or enter the markup amount directly.
Merchant Selection – Assign the transaction to a specific vendor, such as a maintenance provider.
Related Account – If the transaction went through a connected account, choose the bank account or credit card here. If left empty the default will be a standard journal entry.
Trust Accounting field – Choose whether the transaction should be classified as billed to the owner, to management, to taxes, to security deposit, or excluded. For more information, see: How to Use Clearing's Trust Accounting Field for Enhanced Financial Management
Category Selection – Assign the transaction to the correct expense or revenue category.
Asset Assignment – Link the transaction to a specific property or asset.
Homeowner Allocation – Ensure the correct owner is tied to the payment, if required.
Memo Field – Add a short description about the transaction to keep records clear for your bookkeeper or to use automation rules associated with the memo field.
Tax Allocation – Add any predefined tax rates or create a new one.
Booking ID – If the transaction relates to a specific booking, input the booking ID for more accurate booking financial tracking.
Step 4: Uploading Supporting Documents
For better record-keeping, you can upload receipts or invoices to support the transaction. This can be done by using the receipt upload option and uploading the receipt, or by choosing it from the list of already uploaded receipts.
Step 5: Set Up Recurring Transactions (Optional)
If this transaction should repeat monthly, quarterly, or annually, you can automate it by checking the "Make it recurring?" box. See the following article for more information related to manually creating recurring transactions or journal entries (including more detail on each field on a transaction record): How to Create and Manage Recurring Transactions in Clearing
Step 6: Create and Finalize the Transaction
Once all details are entered correctly, the "Create" button will appear. Click "Create" to finalize and save the transaction.
The transaction will now appear in your "Transactions" list.
Step 7: Edit or Lock a Transaction After Creation
After creating the transaction, you may need to edit or lock it. To edit a transaction, go to the Transactions List.
Click on the "three-dot button" (⋮) next to the transaction & select "View transaction details" option. Now you can make necessary changes, then save it to update the record.
If necessary, lock the transaction to prevent accidental edits or deletions. This also ensures the transaction record stays the same as it was when created and locked.
Tracking or Filtering Journal Entries
Go to the "Transactions" section, click "Add filter," and choose the journal entry account under "Account." Set your date range to narrow the results further, this trims your transaction list down to only the entries from that account within your selected dates.
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Clearing is a Financial Technology Company, not a bank.