How To Fix FAA_CFG_CHECK024 - CoCode &1, ledger &2: No accounting principle is assigned

SAP Error Message - Details

• Message type: E = Error

• Message class: FAA_CFG_CHECK - Message Class for consistency check of CFG objects

• Message number: 024

• Message text: CoCode &1, ledger &2: No accounting principle is assigned

Self-Explanatory Message

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Smart SAP Assistant

• What is the cause and solution for SAP error message FAA_CFG_CHECK024 - CoCode &1, ledger &2: No accounting principle is assigned ?

  The SAP error message FAA_CFG_CHECK024 indicates that there is no accounting principle assigned to a specific company code (CoCode) and ledger in the Asset Accounting (FI-AA) module. This error typically arises during the configuration or posting processes when the system cannot find a valid accounting principle for the specified combination.
  Cause:
  
  Missing Configuration: The accounting principle has not been assigned to the company code and ledger in the Asset Accounting configuration.
  Incorrect Settings: The settings for the company code or ledger may be incorrect or incomplete.
  Newly Created Company Code or Ledger: If a new company code or ledger has been created, the necessary configurations may not have been completed.
  
  Solution:
  To resolve the FAA_CFG_CHECK024 error, follow these steps:
  
  
  Check Configuration:
  
  Go to the SAP Easy Access screen and navigate to the following path:
  SPRO -> Financial Accounting -> Asset Accounting -> Integration -> Define Accounting Principles
  
  Ensure that the accounting principle is defined and assigned to the relevant company code and ledger.
  
  
  
  Assign Accounting Principle:
  
  If the accounting principle is not assigned, you can do so by:
  
  Navigating to the configuration path:
  SPRO -> Financial Accounting -> Asset Accounting -> Integration -> Assign Accounting Principles to Company Codes
  
  Here, you can assign the appropriate accounting principle to the company code and ledger.
  
  
  
  
  
  Check Ledger Settings:
  
  Ensure that the ledger settings are correctly configured. You can check this under:
  SPRO -> Financial Accounting -> General Ledger -> Master Data -> Prepare for Migration -> Define Ledgers
  
  Verify that the ledger is active and properly linked to the company code.
  
  
  
  Review Documentation:
  
  If you are unsure about the accounting principles or their configurations, refer to the SAP documentation or consult with your SAP FI-AA consultant for guidance.
  
  
  
  Testing:
  
  After making the necessary changes, perform a test posting to ensure that the error is resolved.
  
  
  
  Related Information:
  
  Accounting Principles: These are rules that govern how financial transactions are recorded and reported. In SAP, different accounting principles can be used for different legal requirements or reporting standards.
  Company Code: This is the smallest organizational unit in SAP for which a complete self-contained set of accounts can be drawn up.
  Ledger: In SAP, a ledger is a record of all financial transactions for a company code, and it can be configured to meet various reporting requirements.
  
  If the issue persists after following these steps, it may be necessary to consult with your SAP support team or a technical consultant for further investigation.