How To Fix 1G162 - Account &2 (bank area &1): already settled period not found

1G162 - Overview

• Message type: E = Error

• Message class: 1G - BKK: Konditionen

• Message number: 162

• Message text: Account &2 (bank area &1): already settled period not found

What causes this issue?

The account balancing could not be executed as the settled period for a
backvalued value date could not be found.

System Response

The system issues an error message and will not allow you to continue with this transaction until the error is resolved.

How to fix this error?

Check to see if the account balancings for the account have all been
executed.

Error message extract from SAP system. Copyright SAP SE.

Smart SAP Assistant

• What is the cause and solution for SAP error message 1G162 - Account &2 (bank area &1): already settled period not found ?

  The SAP error message 1G162 indicates that there is an issue with the account and bank area specified in the transaction. Specifically, it means that the system cannot find a settled period for the account in the specified bank area. This typically occurs in the context of financial transactions, particularly in the area of bank accounting or payment processing.
  
  Cause:
  
  Incorrect Account or Bank Area: The account number or bank area specified in the transaction may be incorrect or not properly configured.
  Settled Period Not Defined: The period for which the transaction is being processed may not have been defined as settled in the system.
  
  Configuration Issues: There may be configuration issues in the bank accounting settings or in the financial accounting settings that prevent the system from recognizing the settled period.
  Data Inconsistencies: There could be inconsistencies in the data, such as missing entries or incorrect postings that lead to the inability to find