How To Fix EP656 - No accounting prinicples assigned to company code &1

EP656 - Overview

• Message type: E = Error

• Message class: EP - Messages for Posting Area

• Message number: 656

• Message text: No accounting prinicples assigned to company code &1

What causes this issue?

Both the new general ledger accounting and parallel position management
have been activated for the company code. To avoid double postings, an
accounting principle must be assigned to a company code.

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?

Assign an accounting principle to the company code in the IMG activity
<DS:SIMG.PL_RECHNLEGVOR>Assign Accounting Principles to Company Code</>.

Procedure for System Administrators

Error message extract from SAP system. Copyright SAP SE.

Smart SAP Assistant

• What is the cause and solution for SAP error message EP656 - No accounting prinicples assigned to company code &1 ?

  The SAP error message EP656 "No accounting principles assigned to company code &1" indicates that the specified company code does not have any accounting principles assigned to it. This can prevent the system from processing financial transactions correctly.
  
  Cause:
  
  Missing Configuration: The company code has not been configured with any accounting principles in the system.
  Incorrect Company Code: The company code specified in the transaction may be incorrect or does not exist in the system.
  Data Migration Issues: If data was migrated from another system, the accounting principles may not have been set up correctly.
  
  
  Solution:
  To resolve this error, you need to assign accounting principles to the company code. Here are the steps to do this:
  
  
  Access the Configuration:
  
  Go to the SAP Easy Access screen.
  Navigate to SPRO (SAP Project Reference Object) > IMG (Implementation Guide).
  
  
  
  Assign Accounting Principles:
  
  Follow the path: Financial Accounting (New) > General Ledger Accounting (New) > Master Data > G/L Accounts > Prepare G/L