CLEARING ACCOUNT, in banking, is a bank account used by a mortgage servicing company for the temporary, short-term deposit of mortgage payments that have been collected and are either awaiting transmittal to investors who bought the mortgages or awaiting deposit in escrow accounts. See CASH CLEARING ACCOUNT.
USAGE VARIANCE is the difference between the budgeted quantity of materials and the actual quantity used.
POS is Point-Of-Sale.
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