How to define bank key in SAP

In SAP system, each house bank is defined by a bank key and bank key is defined with complete details of account number including swift code, IFSC code, account number and address.

In this Sap Training tutorials, you define bank key in SAP using transaction code FI01 and menu path.

  • Transaction code: FI01
  • SAP Menu Path: SAP Menu => Accounting => Financial Accounting => Banks => Master Data => Bank Master Record => Create.

Configuration steps for defining bank key in SAP

Step 1: Execute Tcode “FI01” in the SAP command field.

SAP Transaction code FI01 - define bank key in SAP

Step 2: On configuration screen of bank key, enter the following required details.

  • Bank Country: Enter the country key where the bank is available, in our case IN (India).
  • Bank Key: Enter the key that identifies as bank key in SAP, we can enter up-to 15 digits.

Enter bank key in SAP

After entering the bank country key and bank key, press enter to continue.

Step 4: On detailed screen of bank, enter the following details.

Address

  • Bank Name: Update the bank name
  • Region: Enter the region name that where the bank is located
  • Street: Update the street address of bank
  • City: Update the city name where the bank is located
  • Bank Branch: Enter the bank branch name

Control data:

  • Swift Code: Enter the swift code of bank
  • Bank group: Enter the bank
  • Bank Number: Enter here bank account number provided by bank.

How to Define Bank Key in SAP

After maintaining all the details for bank key, choose save button and save the created bank key in SAP.

bank created in SAP