What is KGRKO code in SAP FS-LOC-RU - Localization of Banking in Russia?

SAP Term: KGRKO code

• Component: FS-LOC-RU

• Component Name: Localization of Banking in Russia

• Description: A code issued by the Central Bank of Russia used to internally register credit institutions.

Smart SAP Assistant

• Key Concepts: 
  KGRKO code is a unique identifier used in the FS-LOC-RU Localization of Banking in Russia component of SAP. It is a four-digit code that is used to identify the type of bank account and the bank that holds it. 
  
  How to use it: 
  The KGRKO code is used to identify the type of bank account and the bank that holds it. It is used in the FS-LOC-RU Localization of Banking in Russia component of SAP. The code is entered into the system when creating a new bank account or when making changes to an existing one. 
  
  Tips & Tricks: 
  When entering a KGRKO code into SAP, make sure to double-check that it is correct. Incorrect codes can lead to errors and delays in processing payments. 
  
  Related Information: 
  The KGRKO code is part of the Russian Central Bank's Bank Identification Code (BIC) system, which is used to identify banks and their accounts. The BIC system is also used in other countries, such as the United States and Canada.