How To Fix 1K026 - No transaction type may be used for account closure

1K026 - Overview

• Message type: E = Error

• Message class: 1K - BCA: Account Type

• Message number: 026

• Message text: No transaction type may be used for account closure

What causes this issue?

None of the transaction types provides for the balancing entry for
account closure.

How to fix this error?

Set up one transaction type each for debit and credit for account
closure.

Error message extract from SAP system. Copyright SAP SE.

1K026 - Details

• The SAP error message 1K026 ("No transaction type may be used for account closure") typically occurs in the context of financial accounting, particularly when dealing with account closures in the SAP system. This error indicates that the transaction type you are trying to use is not permitted for the account closure process.
  
  Cause:
  
  Incorrect Transaction Type: The transaction type you are using may not be configured to allow account closures. Each transaction type in SAP has specific settings that determine its allowed uses.
  Configuration Settings: The configuration settings for the transaction type may not include account closure as a valid operation.
  Account Type Restrictions: The account you are trying to close may have restrictions based on its type (e.g., asset accounts, liability accounts) that prevent certain transaction types from being used for closure.
  Period Closing: The error may also arise if the period for which you are trying to close the account is already closed