How To Fix AX114 - Error occurred when converting accounting principle &1 in application &2

AX114 - Overview

• Message type: E = Error

• Message class: AX - Asset Accounting XPRA messages

• Message number: 114

• Message text: Error occurred when converting accounting principle &1 in application &2

What causes this issue?

An error occurred when converting accounting principle &V1& in
application &V2&. The splitting of local accounting principle <AB>LG</>
into separate country-dependent local accounting principles is one of
the central tasks of the conversion program performed in the application
<LS>General Ledger Accounting (FI-GL)</>. Without the successful
execution of this conversion, the conversions in the dependent
applications can<ZH>not</> be performed either.
INCLUDE XPRA_1902_SEVERE_ERROR OBJECT DOKU ID TX

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

Error message extract from SAP system. Copyright SAP SE.

AX114 - Details

• The SAP error message AX114 indicates that there was an issue when trying to convert an accounting principle in a specific application. This error typically arises during processes that involve the conversion of financial data or when switching between different accounting principles, such as from local GAAP to IFRS or vice versa.
  
  Cause:
  
  
  Configuration Issues: The accounting principles may not be properly configured in the system. This can include missing or incorrect settings in the configuration of the accounting principles.
  Data Inconsistencies: There may be inconsistencies or errors in the data that is being converted, such as missing entries or incorrect mappings.
  Authorization Issues: The user may not have the necessary authorizations to perform the conversion.
  Technical Errors: There could be underlying technical issues, such as problems with the database or the application itself.
  
  
  Solution:
  
  Check Configuration: Review the configuration settings for the accounting principles in the relevant application. Ensure that all necessary settings are correctly defined.
  Data