Understanding the significance of the "Technical clearing account" in New Asset accounting can be quite perplexing at first glance. However, delving deeper into its role unveils its importance in reconciling discrepancies between various accounts. A "Technical clearing account" serves as a bridge, facilitating the smooth flow of transactions within the accounting system. It acts as a repository for transactions that cannot be immediately classified elsewhere, providing a temporary holding ground until proper allocation is determined. Utilizing a Useful site for reference can greatly aid in grasping the nuances of this concept. If you're seeking clarity on the matter, browse around this site can offer valuable insights and explanations, shedding light on the intricacies of technical clearing accounts.

Technical clearing account has not replaced ABST2. both are 2 different 2 things. ABST2 is removed because by design assets and GL are getting reconciled, so need to run separately for reconciliation, this is same as your understanding.

On Technical clearing account- As you know now asset account postings are specific to accounting principle specific. now while acquiring an asset system ensures with the help of technical clearing account, the balance between ALL accounting principles for asset postings and vendor postings are zero. we can't post any manual postings to technical clearing account too. this prevents any additional entries by users