How To Fix FAA_POST038 - Chart of accts &2, CC &3: Acct &1 must be reconciliation acct for assets

SAP Error Message - Details

• Message type: E = Error

• Message class: FAA_POST - FIAA Posting Messages (Object-Oriented Kernel)

• Message number: 038

• Message text: Chart of accts &2, CC &3: Acct &1 must be reconciliation acct for assets

What causes this issue?

The system has determined that the <LS>technical clearing account for
integrated asset acquisition</> &V1&in chart of accounts &V2&, company
code &V3& is <ZH>not</> defined as a reconciliation account for assets.

System Response

The system reacts as follows:
When maintaining the technical clearing account for integrated asset
acquisition: The system saves the changes.
When posting: The system terminates the process.

How to fix this error?

Make sure that account &V1& is defined as a reconciliation account for
assets in G/L account maintenance (transaction <LS>FS00</>) on the <LS>
Control Data</> tab page.

Procedure for System Administrators

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.

Smart SAP Assistant

• What is the cause and solution for SAP error message FAA_POST038 - Chart of accts &2, CC &3: Acct &1 must be reconciliation acct for assets ?

  The SAP error message FAA_POST038 indicates that there is an issue with the account configuration in the Asset Accounting (FI-AA) module. Specifically, it states that the account being used for posting must be a reconciliation account for assets. Here’s a breakdown of the cause, solution, and related information for this error:
  Cause:
  
  Account Type: The account specified in the error message (Account &1) is not set up as a reconciliation account for asset accounts in the chart of accounts (&2) and cost center (&3).
  Configuration Issue: The account may not be properly configured in the Financial Accounting (FI) module to serve as a reconciliation account for asset transactions.
  Posting Attempt: A posting is being attempted to an account that is not designated to handle asset-related transactions.
  
  Solution:
  
  
  Check Account Configuration:
  
  Go to the transaction code OBY6 (or FS00) to check the account settings for the specified account (&1).
  Ensure that the account is marked as a reconciliation account for assets. This can be done by checking the account type and ensuring it is set to "Reconciliation Account for Assets".
  
  
  
  Modify Account Settings:
  
  If the account is not set as a reconciliation account, you will need to change the account settings. This may involve creating a new account or modifying the existing one to ensure it is correctly configured.
  Make sure that the account is assigned to the correct chart of accounts and is linked to the appropriate asset class.
  
  
  
  Review Asset Class Configuration:
  
  Check the asset class configuration to ensure that it is correctly linked to the reconciliation account. You can do this using transaction code OAOA.
  Ensure that the asset class is set up to use the correct reconciliation account.
  
  
  
  Consult Documentation:
  
  Review SAP documentation or consult with your SAP FI consultant for specific guidelines on setting up reconciliation accounts for asset accounting.
  
  
  
  Related Information:
  
  
  Transaction Codes:
  
  OBY6: View and maintain the reconciliation accounts.
  FS00: Create or change general ledger accounts.
  OAOA: Maintain asset classes.
  
  
  
  SAP Notes: Check for any relevant SAP Notes that may address specific issues or provide additional guidance related to this error message.
  
  
  Testing: After making the necessary changes, perform a test posting to ensure that the error does not occur again.
  
  
  User Authorization: Ensure that you have the necessary authorizations to make changes to account settings in SAP.
  
  
  By following these steps, you should be able to resolve the FAA_POST038 error and ensure that your asset accounting postings are processed correctly.