How To Fix FAA_S2I_MIGR047 - No accounting principle found for chart of deprec. &1/deprec. area &2

SAP Error Message - Details

• Message type: E = Error

• Message class: FAA_S2I_MIGR - Messages from Switch2IFRS Migration

• Message number: 047

• Message text: No accounting principle found for chart of deprec. &1/deprec. area &2

What causes this issue?

For chart of depreciation &V1& / depreciation name &V2&, <ZH>no</>
accounting principle could be derived from the assigned ledger group
&V3&.

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 the accounting principle manually in Customizing for <LS>Asset
Accounting</> under <DS:SIMG.T093_00N_NEW_DC>Define Depreciation Areas
</>.

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 FAA_S2I_MIGR047 - No accounting principle found for chart of deprec. &1/deprec. area &2 ?

  The SAP error message FAA_S2I_MIGR047 indicates that there is no accounting principle defined for the specified chart of depreciation and depreciation area. This error typically occurs during the migration or configuration of fixed assets in SAP, particularly when dealing with the Asset Accounting (FI-AA) module.
  Cause:
  
  Missing Configuration: The primary cause of this error is that the accounting principle for the specified chart of depreciation and depreciation area has not been defined in the system.
  Incorrect Chart of Depreciation: The chart of depreciation specified may not be correctly assigned or may not exist in the system.
  Data Migration Issues: If you are migrating data from another system or an older version of SAP, there may be inconsistencies or missing configurations in the migration process.
  
  Solution:
  To resolve this error, you can follow these steps:
  
  
  Check Configuration:
  
  Go to the SAP Customizing Implementation Guide (SPRO).
  Navigate to Financial Accounting (New) > Asset Accounting > Integration > Define Accounting Principles.
  Ensure that the accounting principle is defined for the specified chart of depreciation and depreciation area.
  
  
  
  Assign Accounting Principles:
  
  If the accounting principle is missing, you need to create or assign it to the relevant chart of depreciation and depreciation area.
  Make sure that the accounting principles are correctly assigned to the depreciation areas you are using.
  
  
  
  Verify Chart of Depreciation:
  
  Check if the chart of depreciation specified in the error message exists and is correctly configured.
  Ensure that the depreciation area is correctly assigned to the chart of depreciation.
  
  
  
  Data Migration:
  
  If this error occurs during data migration, review the migration data to ensure that all necessary configurations and mappings are in place.
  Use transaction code AS91 (for creating assets) or AS92 (for changing assets) to check if the assets are correctly set up.
  
  
  
  Consult Documentation:
  
  Refer to SAP documentation or help resources for specific details on configuring accounting principles and depreciation areas.
  
  
  
  Related Information:
  
  
  Transaction Codes: 
  
  SPRO: Access the SAP Customizing Implementation Guide.
  OADB: Define and manage depreciation areas.
  OAYD: Assign accounting principles to depreciation areas.
  
  
  
  SAP Notes: Check for any relevant SAP Notes that may address this specific error or provide additional guidance.
  
  
  Testing: After making the necessary changes, test the configuration by trying to execute the transaction that previously resulted in the error.
  
  
  By following these steps, you should be able to resolve the FAA_S2I_MIGR047 error and ensure that your fixed asset accounting is correctly configured in SAP.