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

SAP Error Message - Details

• 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 a settled period.
  
  Solution:
  
  Verify Account and Bank Area: Check the account number and bank area specified in the transaction to ensure they are correct and exist in the system.
  Check Settled Periods: Review the periods defined in the system to ensure that the period you are trying to access has been properly settled. You can do this by navigating to the relevant financial accounting settings.
  Configuration Review: Ensure that the configuration for bank accounting and financial accounting is set up correctly. This may involve checking the settings in transaction codes like OBYA (for bank accounting) or OB52 (for posting periods).
  Data Consistency Check: Run any necessary reports or transactions to check for data inconsistencies. This may involve using transaction codes like FBL1N (Vendor Line Item Display) or FBL3N (G/L Account Line Item Display) to review postings.
  Consult Documentation: Refer to SAP documentation or help resources for specific guidance on the error message and related configuration settings.
  
  Related Information:
  
  Transaction Codes: Familiarize yourself with relevant transaction codes such as OB52 (for managing posting periods) and OBYA (for bank accounting settings).
  SAP Notes: Check SAP Notes for any known issues or patches related to this error message. SAP Notes can provide additional context or solutions for specific scenarios.
  User Roles and Authorizations: Ensure that the user has the necessary roles and authorizations to access the account and bank area in question.
  
  If the issue persists after following these steps, it may be beneficial to consult with your SAP support team or a functional consultant who specializes in financial accounting within SAP.