What is accounting type in SAP LO-GT - Global Trade Management?

SAP Term: accounting type

• Component: LO-GT

• Component Name: Global Trade Management

• Description: A category that controls which account key is used for posting expense values in expense management. Both sales and purchasing account keys can be assigned to the same accounting type.

Smart SAP Assistant

• Key Concepts: 
  Accounting type is a feature of the LO-GT Global Trade Management component of SAP. It is used to define the accounting rules for a particular transaction. It is used to determine how the transaction will be recorded in the company’s financial records. 
  
  How to use it: 
  The accounting type is set up in the SAP system and can be accessed through the LO-GT Global Trade Management component. The user can select the appropriate accounting type for each transaction and the system will automatically apply the correct accounting rules. 
  
  Tips & Tricks: 
  It is important to ensure that the correct accounting type is selected for each transaction, as this will ensure that the financial records are accurate and up-to-date. It is also important to keep track of any changes made to the accounting type, as this could affect the accuracy of the financial records. 
  
  Related Information: 
  The accounting type feature is closely related to other features of SAP such as cost centers, cost elements, and profit centers. It is important to understand how these features interact with each other in order to ensure that the financial records are accurate and up-to-date.