Last Updated on December 19, 2022 by Pradeep
We usually get errors in SAP FICO in the testing phase under the realization process of project implementation. To resolve these errors a consultant has to check back-end work, and configurations and sometimes require a trial & error run also. Hence below I present the Top Ten Common Errors in SAP FICO to add to your real-time knowledge.
These SAP error codes and solutions can also be considered SAP FICO real-time scenarios that would help you in clearing an interview and help you in your actual work.
Therefore, you need to understand these errors and learn their respective solutions.
Why you should learn about common Errors in SAP FICO?
Errors are very common during the configuration and implementation of SAP. In your day-to-day activities as an SAP consultant, you would face a lot of real-time issues in various areas of this subject. Therefore, you should be aware of all possible aspects where you may have some errors or issues.
A lot of people like you are looking for these kinds of common errors in SAP FICO. Thus, I have collated the 10 most common errors with their error codes and solutions that come while configuration. Additionally, these are very frequently asked questions in SAP FICO interviews. Thus, you should pay good attention to these errors.
Do Read: What is SAP? – Historical facts. Introduction. Journey.
Error 1 – While executing Depreciation Run
Why do transaction in area NN contradicts the net book-value rule
You get this error when you try to post value to an Asset such as special or unplanned depreciation. This would make the Net book value of assets negative.
This issue can be fixed by going to the depreciation area configuration for the chart of depreciation and changing the value allowed to “All Values Allowed”. However, before you change the configuration, ensure that you truly want to allow negative net book value. Otherwise, go back and check your transaction.
Error 2 – While Posting the Customer Invoice
Why only output tax is allowed for account xxxxxxx xx
You get these types of errors when there are restrictions on the type of tax codes allowed for GL accounts. Go to FS00 and check the Control data tab/Tax Category field. Check the posting for the correct tax code. If you still want to eliminate the error, you would need to change the Tax category.
Also Read: SAP FI MM Integration Interview Questions
Error 3 – During APC transfer
Why Balancing field “Profit Center” in line 01 not filled Error in ASKB
ASKB is the transaction in SAP used for periodic posting of Asset APC values to G/L.
You get a Profit Center balancing error if you do not maintain the necessary account determination in Configuration. To fix the error look for the depreciation area with the issue and check if the account determination Cost objects have been maintained in ACSET. Maintain the values and issues that should be fixed.
Error 4 – While Posting an Asset Invoice, your client gets an error in SAP FICO
Transaction key XXX YY Chart of Accounts ZZZZ not defined in table T030K
These errors like charts of accounts not defined in SAP FICO Tables, occur when you try to post an Invoice and the tax code has not been maintained in Configuration.
To resolve the issue, you have everything in the Error message except the G/L account that needs to be assigned to the Tax code. Go to Tcode OB40 => Provide Chart of Account (ZZZZ) => Transaction (XXX) => and assign G/L to the tax code (YY).
Important: Top 20 questions for SAP FICO Interviews for Beginners
Error 5 – During Intercompany transaction posting
Company codes have different settings for withholding tax treatment.
You receive these kinds of errors in SAP FICO when you try to post intercompany posting, but one of the company codes is on standard withholding tax setting while another one is on extended withholding tax setting.
Check the setting in IMG –> Financial Accounting –> Financial Accounting Global Setting –> Company Code –> Activate Extended Withholding Tax.
Since you won’t be able to post a single cross-company code posting. Thus you would need to post 2 entries, one in each company code separately. At a later stage, check if you want to bring both company codes to extended withholding tax.
Frequently Asked SAP FICO Interview Questions
Error 6 – While posting a voucher entry in FI
Why Account XXXXXXXX requires assignment to CO object.
You get this error message (Account XXXXXXXX requires an assignment to a CO object) when the GL account is relevant for Cost posting i.e. Primary Cost element is created for the account. In this case, the system is going to need a Cost Object (Cost Centre, Internal order, WBS element, etc) in the posting as a posting needs to be automatically done in SAP Controlling.
Related Article: Asset Capitalization in SAP S4 HANA
Error 7 – During the Automatic posting
What should I do to solve these sorts of errors in SAP FICO?
In the case of auto-posting (such as gain/loss posting), you will not be able to assign the Cost objects manually. In that case, you will need to assign a default cost object to the account (OKB9).
Error 8 – Withholding Tax Errors in SAP FICO
An entry with this withholding tax type already exists. How to resolve this error in SAP FICO?
This error in SAP FICO occurs when you try to assign multiple lines with the same tax type to the business transaction. SAP only allows one entry for tax type in a business transaction. If multiple lines need to be inserted, then multiple tax types must be created.
Read Related: Best 50 SAP FICO Interview Questions for Freshers
Error 9 – During intercompany transaction posting
No clearing accounts specified for company codes NNNN/MMMM
You receive this error when you try to post intercompany posting, but the company code pair has not been set up for cross-company code posting.
To resolve, make a configuration change in OBYA. Company Codes must be on the same Withholding Tax setting (Classic or Extended).
You may want to read: Popular TCodes in SAP FICO
Error 10 – NetWeaver Settings Errors in SAP FICO
Maintain conversion factors for XXX/YYY (currency type NN).
This error indicates that the Conversion factor has not been maintained for the currency pair in the system. Check the currency pair in IMG -> General Settings -> Currencies -> Define Translation ratios.
If the currency pair is not maintained, maintain the pair for XXX/YYY and YYY/XXX (for example USD/CAD and CAD/USD).
Read More:- Interview Questions on SAP S/4HANA Finance
Why you should know the common Errors in SAP FICO? – The Conclusion
SAP FICO is the first step towards S4HANA Finance. To grow further in your career, make sure you clear all your FICO concepts thoroughly. For this, you need to learn all real-time issues and common errors that you may face during implementation. This will help you to understand how to become a successful SAP S/4HANA Finance Consultant.
I hope this article would have helped you in understanding some popular scenarios in SAP FICO.
