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

SAP Error Message - Details

• 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 Account Master Data > Define Accounting Principles.
  Here, you can assign the relevant accounting principles to the company code.
  
  
  
  Check Company Code Settings:
  
  Ensure that the company code is correctly set up and that it is active.
  You can check this by navigating to Financial Accounting > General Ledger Accounting > Master Data > G/L Accounts > Create/Change and verifying the company code settings.
  
  
  
  Testing:
  
  After assigning the accounting principles, test the transaction again to ensure that the error is resolved.
  
  
  
  Related Information:
  
  Transaction Codes: You may use transaction codes like OBY6 to check and maintain company code settings.
  Documentation: Refer to SAP Help documentation for detailed steps on configuring accounting principles and company codes.
  User Roles: Ensure that you have the necessary authorizations to make changes to the configuration settings.
  
  If the issue persists after following these steps, it may be beneficial to consult with your SAP Basis or Financial Accounting team for further investigation.