What is posting date in SAP FS-BA-PM-AFP - Accounting for Financial Products?

SAP Term: posting date

• Component: FS-BA-PM-AFP

• Component Name: Accounting for Financial Products

• Description: Date that defines to which accounting period an external business transaction is assigned. The posting date is a required entry field in accounting documents.

Smart SAP Assistant

• Key Concepts: 
  Posting date is a term used in the Accounting for Financial Products (AFP) component of SAP's Financial Services (FS) Business Application (BA). It is the date on which a financial transaction is recorded in the accounting system. The posting date is used to determine when the transaction should be posted to the general ledger and when it should be reported in financial statements. 
  
  How to use it: 
  The posting date is typically set when a transaction is entered into the system. It can be changed at any time, but it must be done before the transaction is posted to the general ledger. The posting date can also be used to track transactions over time, as it will remain unchanged even if the transaction is modified or reversed. 
  
  Tips & Tricks: 
  When entering a transaction into SAP, it is important to ensure that the posting date is accurate. This will ensure that the transaction is posted correctly and that it will be reported accurately in financial statements. It is also important to note that some transactions may require multiple postings, and each posting must have its own unique posting date. 
  
  Related Information: 
  For more information on posting dates and other accounting terms, please refer to SAP's documentation on Accounting for Financial Products. Additionally, you can find more information on SAP's Financial Services Business Application on their website.