When you record a transaction you want to pay electronically, the transaction is posted to a temporary holding account. This type of holding account is called a clearing account or a suspense account. The payment sits in this account until you're ready to create a payment file to upload to your bank for processing.
Check your accounts list for an account named ‘Electronic Clearing Account’ (Accounts command centre > Accounts List).
Here's a sample of what an electronic clearing account looks like (from AccountRight's sample company file, Clearwater):
If this account doesn’t exist in your company file, you'll need to create it and then set this account as the linked (default) account for electronic payments.
If you've checked your accounts list but can't find an electronic clearing account, here's how to create it:
Go to the Accounts command centre and click Accounts List.
Click the Asset tab.
Set up the account like this example. You can give the account whatever number you choose to suit your accounts list.
Click OK to save the account.
Go to the Setup menu, choose Linked Accounts and then Accounts & Banking Accounts. The Accounts & Banking Linked Accounts window appears.
In the Bank Account for Electronic Payments field, type or select the Electronic Clearing Account.