How To Fix AC301 - Account &3-&1 is not a balance sheet account

SAP Error Message - Details

• Message type: E = Error

• Message class: AC - Error messages from Asset Customizing

• Message number: 301

• Message text: Account &3-&1 is not a balance sheet account

What causes this issue?

Account &V1& is not defined as a balance sheet account in chart of
accounts &V3&.
For this situation (&V2&) that is incorrect.

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?

Change the account definition or assign a different account for the
given set of circumstances.

Error message extract from SAP system. Copyright SAP SE.

Smart SAP Assistant

• What is the cause and solution for SAP error message AC301 - Account &3-&1 is not a balance sheet account ?

  The SAP error message AC301 indicates that the account specified (in this case, represented by placeholders &3 and &1) is not a balance sheet account. This error typically arises when trying to post a transaction that requires a balance sheet account, but the account in question is classified as a profit and loss (P&L) account or is not set up correctly in the system.
  Cause:
  
  Account Type Misconfiguration: The account you are trying to use is not configured as a balance sheet account in the SAP system. Balance sheet accounts are typically asset, liability, or equity accounts, while P&L accounts are used for income and expenses.
  Incorrect Account Assignment: The transaction you are trying to post may require a balance sheet account, but you are using a P&L account instead.
  Master Data Issues: The account master data may not be set up correctly, leading to the system not recognizing it as a balance sheet account.
  
  Solution:
  
  
  Check Account Configuration:
  
  Go to the account master data in SAP (transaction code FS00).
  Verify that the account in question is set up as a balance sheet account. This can be checked in the "Control Data" tab where the "Account Type" should be set to "Balance Sheet Account" (typically, this is indicated by the account type being "A" for assets or "L" for liabilities).
  
  
  
  Use the Correct Account:
  
  If you are trying to post a transaction that requires a balance sheet account, ensure that you are using the correct account. You may need to select a different account that is classified as a balance sheet account.
  
  
  
  Adjust Transaction Type:
  
  If the transaction you are trying to post does not require a balance sheet account, ensure that you are using the correct transaction type that aligns with the account type you are using.
  
  
  
  Consult with Finance Team:
  
  If you are unsure about the account classification or the appropriate account to use, consult with your finance or accounting team to ensure compliance with accounting standards and practices.
  
  
  
  Review Configuration Settings:
  
  If you have the necessary permissions, review the configuration settings in the Financial Accounting (FI) module to ensure that the account types are set up correctly.
  
  
  
  Related Information:
  
  Account Types in SAP: Understanding the different account types (e.g., balance sheet vs. P&L) is crucial for proper financial reporting and compliance.
  Transaction Codes: Familiarize yourself with relevant transaction codes such as FS00 (to display/change account master data) and FBL3N (to display G/L account line items) for troubleshooting.
  SAP Documentation: Refer to SAP Help documentation for detailed information on account types and their configurations.
  
  By following these steps, you should be able to resolve the AC301 error and ensure that you are using the correct accounts for your transactions.