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Defining Bank Transaction Codes. Transaction codes represent the various bank transactions you will use in the Accounts Payable and Accounts Receivable applications. You define transaction codes for types of payments, such as checks or bills of exchange, or for bank services, such as deposits or service charges.
What SAP Transaction Codes are. SAP transaction codes are short cuts for SAP commands that allow you to access various system tasks by using the code to tell the system the location of the task. SAP codes are generally either a combination of letters or a combination of letter and numbers like SE11, which is the code that opens up ABAP dictionary maintenance. One of the most important codes to learn is the code that lists all of the other transaction codes.