What is bank key in SAP SRD-HR-PAY - HCM-Payroll Processing?

SAP Term: bank key

• Component: SRD-HR-PAY

• Component Name: HCM-Payroll Processing

• Description: A unique number or code that uniformly identifies a bank in the system.

Smart SAP Assistant

• Key Concepts: 
  A bank key is a unique identifier used to identify a bank account in SAP. It is used to store and process payments from the payroll system. The bank key is a combination of the bank code, branch code, and account number. 
  
  How to use it: 
  In the SAP HCM-Payroll Processing component, the bank key is used to identify the bank account associated with an employee’s payroll payments. The bank key is entered into the system when setting up an employee’s payroll information. 
  
  Tips & Tricks: 
  When entering a bank key into the system, make sure to double-check that all of the information is correct. This will ensure that payments are processed correctly and on time. 
  
  Related Information: 
  The bank key is also used in other SAP components such as FI-AP (Accounts Payable) and FI-AR (Accounts Receivable). It is important to note that the bank key may be different for each component.