What is the posting key, and what does it control? Posting Keys:– Posting key in SAP is a two digits numerical key that determines the type of transaction entered in line items Posting Keys Determines:- Account Types ( A, D, K, M, S ) Type of postings i.e. Debit or Credit Field status of the transaction.
Read more →Yes. we can assign more than One ‘Company Code’ to a ‘Company.’ All the Compan Codes within a Company should use the same Chart of Accounts and the same Fiscal Year, though all company codes can have different Local Currencies.
Read more →The chart of accounts ( COA ) is a list of GL accounts master records that are used by the organization. A chart of accounts must be assigned to each company code. Chart of Accounts is defined at the client level. Types of Charts of Accounts in SAP are Operating chart of Accounts Country-Specific chart of Accounts Group Chart of
Read more →The Major Components of a Chart of Accounts are Chart of account key Name Maintain language Length GL Account Number Controlling integration Consolidation – Group chart of accounts Block indicator
Read more →IBAN stands for “International bank account number, internationally recognized, a unique identification number for a specific bank account. An IBAN is a series of a maximum of 34 alphanumeric characters and is made up of a combination of the following elements: The bank country key (ISO-Code) Two check digits Country-specific account number IBAN maintains in bank details of Customer/Vendor Master
Read more →What is a Business Area in SAP? Business areas represent separate areas of operation or locations within an organization and can be used across company codes. They can also represent different responsibility areas. Business areas are balancing entities that are able to create their own set of financial statements for internal purposes. The configuration of the business area in ERP
Read more →The Important Global Settings for a Company Code in SAP are As per General data: Company Code Company Name City Address Currency Country Language As per Global data: Credit Control Area Chart of Accounts Fiscal Year Variant Posting Period Variant Field Status Variant.
Read more →What is a Company Code in SAP? Company Code is a legal entity of Financial Accounting for which you draw individual financial statements ( Balance Sheet and Profit & Loss Account ) for the purpose of external statutory reporting. In other words, the organizational unit for which a completely self-contained set of accounts can be drawn up for external reporting
Read more →What is a Company in SAP? A Company in SAP is represented by a Six character alphanumeric code. Usually, it represents the enterprise or the group company, and individual financial statements can be drawn A company can comprise one or more company codes. The definition/creation of Company in sap is optional. Learn how to define a company in SAP.
Read more →The Important organizational elements in SAP FI are Company Code Business Area Chart of Account Functional Area Company code is the Smallest Organization unit for which independent financial statements can be carried out. Balance sheets and profit & loss statements can be created at the company code level as required by law. Business transactions are processed at each company code level.
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