How To Fix FAGL_COFI053 - Account & & is not defined for accounting principle &

SAP Error Message - Details

• Message type: E = Error

• Message class: FAGL_COFI - Messages for Real-Time Integration CO->FI

• Message number: 053

• Message text: Account & & is not defined for accounting principle &

What causes this issue?

You are using the accounts approach for parallel accounting. The
reconciliation account &V1& in company code &V2& is not valid for
accounting principle &V3&. The reconciliation account is determined from
the cost element using account determination. When you portray parallel
accounting using accounts, you define the parallel G/L accounts in
Customizing.

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?

Determine whether the original cost element is to be used for this
accounting principle. In this case, replace the assigned G/L account for
the reconciliation account in the Customizing activity
<DS:SIMG.V_FCML_ACCMAP_AP>Determine Accounts Based on Accounting
Principle</>.

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 FAGL_COFI053 - Account & & is not defined for accounting principle & ?

  The SAP error message FAGL_COFI053 indicates that a specific account is not defined for a particular accounting principle in the context of the General Ledger (G/L) accounting. This error typically arises when you are trying to post a transaction that requires an account to be linked to a specific accounting principle, but the system cannot find the necessary configuration.
  Cause:
  
  Missing Account Assignment: The account you are trying to use is not assigned to the specified accounting principle in the configuration settings.
  Incorrect Configuration: The accounting principle may not be properly set up in the system, or the account may not be included in the relevant chart of accounts.
  Data Entry Error: There may be a typo or incorrect account number being used in the transaction.
  
  Solution:
  
  
  Check Account Configuration:
  
  Go to the transaction code OB58 (or the relevant configuration path) to check the account assignments for the accounting principles.
  Ensure that the account in question is assigned to the correct accounting principle.
  
  
  
  Define Account for Accounting Principle:
  
  If the account is not defined, you will need to add it. This can typically be done in the configuration settings under Financial Accounting (FI) > General Ledger Accounting > Master Data > G/L Accounts > Prepare G/L Account Creation.
  Make sure to assign the account to the appropriate accounting principle.
  
  
  
  Review Chart of Accounts:
  
  Ensure that the account is part of the correct chart of accounts that is being used for the company code in question.
  
  
  
  Check Transaction Data:
  
  Review the transaction data you are trying to post. Ensure that the account number and accounting principle are correctly entered.
  
  
  
  Consult Documentation:
  
  If you are unsure about the configuration, refer to SAP documentation or consult with your SAP FI consultant for guidance on setting up accounts for different accounting principles.
  
  
  
  Related Information:
  
  
  Transaction Codes: 
  
  OB58: To check and maintain account assignments for accounting principles.
  FS00: To display or change G/L account master data.
  
  
  
  Accounting Principles: In SAP, accounting principles can refer to different sets of rules or standards (like IFRS, GAAP) that dictate how financial transactions are recorded.
  
  
  SAP Notes: Check SAP Notes for any specific patches or updates related to this error message, as there may be known issues or fixes provided by SAP.
  
  
  By following these steps, you should be able to resolve the FAGL_COFI053 error and ensure that the account is properly defined for the specified accounting principle.