Introduction What is an ERP system? And why should businesses use it? Today, small and medium-sized businesses (SMEs) also face some of the problems that large enterprises do. One of them being planning and managing their resources. SMEs face similar complexities but have limited resources to deal with them. Small businesses (like their bigger counterparts) have to: Do accounts to track their sales/purchases. Do their taxes. Pay their employees. Manage deliveries within promised timelines. Deliver quality goods and services. Communicate with customers, answer their queries. Large enterprises invest millions of dollars in highly sophisticated systems like SAP. SAP and similar systems are able to handle requirements from these large enterprises to bring their multi-country , multi-company , multi-currency , global businesses into a single platform. This has helped them achieve consolidation of data/records in the fundamental processes such as accounting, taxation, payroll, reporting
Posting Keys in SAP FI are used to determine Account types (A, D, K, M, and S) and also the type of posting. It is 2-digit numerical key. Different Account Types in SAP FI − A = Assets D = Customers K = Vendors M = Materials S = General Ledger Account Asset Posting Keys Posting Key Description Debit/Credit 70 Debit Asset Debit 75 Credit Asset Credit Material Posting Keys Posting Key Description Debit/Credit 89 Stock Inward Movement Material Debit 99 Stock outward Movement Material Credit There are various Account type posting keys available 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. Now you need to provide the following details − Debit/Credit Indicator − Select Debit or Credit. Account Type − Select