SAP Financial Accounting (SAP FI) Practice Exam

What is the designation for individual accounts within a house bank in SAP FI?

1. Account Type

2. Account ID

3. Bank Identifier Code

4. Account Number

The correct answer is: Account ID

In SAP FI, individual accounts within a house bank are designated using an Account ID. This identifier serves to uniquely distinguish each account that is maintained under a particular house bank setup. It is essential for the system to differentiate between various bank accounts that an organization may have linked to a single house bank, allowing for precise financial operations, reporting, and tracking. The use of the Account ID facilitates better management of cash and liquidity, enabling users to reference specific bank accounts efficiently. Each house bank can have multiple accounts, and the Account ID ensures that transactions are processed accurately by tying them back to the correct financial data. The other choices represent different banking and financial terms but do not serve as the primary designation for individual accounts within a house bank in SAP FI. For instance, Account Type generally refers to the classification of accounts (such as checking or savings) but does not provide unique identification for each individual account. The Bank Identifier Code is used for international transactions to identify specific banks but is not used for designating individual accounts within a house bank. Account Number might seem like a candidate but is typically a more general term and does not capture the specific functionality provided by the Account ID in SAP FI.