Prepare the necessary entries to clear the Intangible Assets account and to set up separate accounts for distinct types of intangibles.

In order for the Intangible Assets Account to be cleared and separate accounts set up for different types of Intangibles to be created, it is necessary to enter the following:
1. For the total amount of intangible assets, debit Intangible Asset account and credit Cash or any other asset/liability (e.g. Accounts Receivable).
2. Make sure to create a new account for each intangible item.
3. Debit specific intangible assets accounts and credit the account for Intangible Assets;
4. Add specific subaccounts when there are different categories within one type of asset intangible (e.g. Copyright or Patent).

As an example, let’s say that an organization owns $100,000 of total intangibles, consisting of both copyrights and patents. They will need to debit the Intangible Assets (100,000), while crediting their Cash/Asset/Liability account (100,00) Then they would create two separate accounts – Copyrights & Patents – which they would debit this same time ($50k each) while also crediting back their respective sub-accounts with the same amount.

By taking these steps it helps ensure that all relevant information regarding different types of intangibles is captured in a more organized fashion – allowing them to properly track any changes over time as well as perform better analysis & reporting when needed.

It is important to note that a structured accounting system will allow you greater control and compliance of financial records.; which is why it’s important to take necessary steps towards setting up such system when dealing with various forms of intangibles.