What is bank Control Key in SAP?
A bank control key specifies the type of the supplier bank account, such as savings or checking. Different countries can have different bank control keys. Importing the bank control key values used by the ERP system in SAP Ariba helps avoid this issue.
Where do we keep bank Control Key in SAP?
In system, you can go to tcode FI01 to create Bank key and FI12 to set up your house bank, assign your bank key and create bank accounts in each house bank.
What is a bank Control Key in Italy?
Bank Control Key is a mandatory field for Italy customers//vendors’ bank account details. If you have an Italian IBAN, then the Control Key can be derived form it. It can be one or two digits long. It is usually the two digits after ‘IT’ in the IBAN number.
Is bank key same as sort code?
A sort code (which you might also hear called a ‘branch sort code’) is the other key number you need. It’s a 6-digit number that identifies the branch of your bank where your account is held. The digits are typically grouped in pairs.
What is bank control code?
A two number “control code” which allows errors to be identified when long numbers are input manually. Up to 30 letters and numbers that identify the specific bank and bank account.
What is Control Key bank?
The control key always has 2 digits and is numeric. The bank key has 10 digits (5 positions stand for the bank number and 5 positions for the branch) and is numeric and without gaps. The bank account number has up to 12 digits, letters and special characters (‘ ‘ , ‘-‘, ‘. ‘) are allowed.
Is bank key mandatory in SAP?
Bank key number is optional for country India and mandatory for US. In SAP, bank key consists detailed address information of bank account with account number.
Is bank key same as SWIFT code?
Bank key is usually used as payment requisite in local bank transfers, whereas SWIFT-codes are used for international payments.
What is a bank key and bank control key?
Bank control key is sometimes a two-digit which is usually signifies whether the account is a savings or checking. A checking account usually have a bank control key. Bank control key is sometimes the check number.
How do I add a bank key in SAP?
SAP FI01: How to Create a BANK KEY
- Step 1) Enter FI01 into the SAP transaction code box.
- Step 2) In the next SAP Screen.
- Step 3) In the next SAP screen , under the Address section.
- Step 4) In the control data section.
- Step 5) Click Save . A new Bank Key is created.
Is Sort Code in Iban?
A Republic of Ireland IBAN is made up of 22 characters. The middle 6 digits are the Sort Code of the beneficiary bank and the last 8 digits are the Account Number.