why there is a balance of £0.01 under the payroll clearing account?

There are several reasons why discrepancies occur in your payroll clearing account, Lilit. 

Manual transactions, adjustments, rounding differences, or currency conversions may have caused the discrepancy. Let's review your transaction audit history to trace the balance origin. Here's how: 

1. Go to the Gear icon, then select the Chart of accounts.
2. Look for the Payroll clearing account and click Account history.
3. Examine each payroll transaction and compare it with the actual bank statement to ensure it matches.
4. Select the transaction that makes up the £0.01 balance.
5. Click Edit, then More.
6. Hit Audit history.

Review the transaction history carefully. If adjustments are needed, consult your accountant and make the necessary updates to ensure everything is accurate.

If you have more questions, feel free to leave a comment below.