Clearing

Clear·ing

Clearing

n.
  1. The act or process of making clear.
    The better clearing of this point.
  2. A tract of land cleared of wood for cultivation.
    A lonely clearing on the shores of Moxie Lake.
    — J. Burroughs.
  3. A method adopted by banks and bankers for making an exchange of checks held by each against the others, and settling differences of accounts.
  4. The gross amount of the balances adjusted in the clearing house.

Phrases & Compounds
Clearing house
the establishment where the business of clearing is carried on. See above, 3.