What is virtual account number in SAP FI - Financial Accounting?

SAP Term: virtual account number

• Component: FI

• Component Name: Financial Accounting

• Description: Dummy bank account number issued by the house bank to identify payments from customers.

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• Key Concepts: 
  A virtual account number (VAN) is a unique identifier used in SAP Financial Accounting (FI) to identify a particular account. It is used to simplify the process of entering and tracking financial transactions. VANs are typically assigned to customers, vendors, and other entities that have financial relationships with the company. 
  
  How to use it: 
  In SAP FI, VANs are used to identify accounts in the system. When entering a transaction, the user will enter the VAN associated with the account instead of the account number. This simplifies the process of entering and tracking transactions, as it eliminates the need to manually enter account numbers. 
  
  Tips & Tricks: 
  When assigning VANs, it is important to ensure that each VAN is unique and not shared by multiple accounts. This will help prevent errors when entering transactions and ensure that all transactions are properly tracked. 
  
  Related Information: 
  VANs are similar to customer or vendor numbers in that they are used to identify accounts in SAP FI. However, unlike customer or vendor numbers, VANs are not typically used for customer or vendor management.