What Is The Importance Of Posting Keys?

Posting key determines the account type to be entered. That means it will determine whether account type will be a customer account or vendor account or asset account or general ledger account.

What is the use of posting keys?

Posting Key is a two-digit numeric key. It is defined to control the entry of document line items in a FI Transaction. Posting Key specifies the line item is either debit or credit entry, account type and the screen layout of line items. Special posting keys are used for posting special General ledger transactions.

What does posting key mean?

Posting key is a two digit number which plays a very crucial role in posting an accounting document. As per standard practice, each key is used for a specific business transaction. Standard sap offer large number of predefined key.

What is the posting key and what does it control?

Posting Key is a two-digit numeric key.It is defined to control the entry of document line items in a FI Transaction. Posting Key specifies the line item is either debit or credit entry, account type and the screen layout of line items. Special posting keys are used for posting special General ledger transactions.

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What is posting key in SAP FI?

How to create a SAP FI Posting Key? Go to SPRO → SAP Reference IMG → Financial Accounting → Financial Accounting Global Setting → Document → Line Item → Controls → Define Posting Keys → Execute. Click the Create icon. Enter the 2-digit numeric code (Example ’02’) and the name of the posting key and press the Enter key.

What do posting keys determine?

Posting Keys:– Posting key in SAP is a two digits numerical key that determines the type of transaction entered in a line item. Posting keys in SAP controls the entries in a line item of document entries. It determines the account type to post, i.e., the amount should be posted on the debit side or credit side.

What is the use of posting key with respect to GL account?

The posting key determines: The data you can enter in the line item. How data you post is processed.

What does posting mean in SAP?

The use of Journal Entry (JE) posting in SAP FI is to take a batch, validate it for consistency, and create FI documents and post those entries in various line item accounts needed for subsequent business processing.

What is the significance of posting date and entry date in SAP?

The document date will be the date on the invoice. It is the date used for aging purposes, and used to calculate the due date (based on the terms) and the date used for calculating discounts. The Posting Date is the date that will be used to post the transaction in the GL.

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What are keys in SAP?

Developer & Object Keys (SSCR) The SSCR (SAP Software Change Registration) registers all manual changes to SAP sources and SAP Dictionary objects. If an ABAP developer wants to change them in an SAP system, the system will prompt for two access keys: Developer key to register a particular user as a developer.

What is posting period in SAP SD?

SAP FI Posting period variant is used to maintain accounting periods that are open for posting and all closed period are balanced. This is used for opening and closing period in the fiscal year for posting purpose. You can assign these posting periods to one or more company codes.

What is the use of document key in SAP?

Document Type Key is used to distinguish between different business transactions and to classify the accounting documents. It is also used to determine the number range for documents and account types such as asset, material, vendor, etc. for posting.

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