Question - What is the posting key?
Answer -
The posting key is a two-digit numeric key used for determining the type of transaction which is entered in the line item. It determines account types(A–>Assets, D–>Customers, K–>Vendors, M–>Materials, S–>General Ledger Account), the layout of entry screens, and types of posting(Debit or Credit). Special posting keys are useful in posting special General ledger transactions.
Posting keys scenarios are:
- The standard SAP system is responsible to deliver the standard posting key, and you will be enabled for using the standard posting and change or modify it as per the business organization requirement.
- Posting keys provided in the SAP will control the entries in a line item of document entries.
- It decides about the account type to post, that is, whether the amount is supposed to be posted on the credit side or debit side.