How To Fix FARR_FOUNDATION818 - Account &1 is not valid; early termination acct must be a P/L account

FARR_FOUNDATION818 - Overview

• Message type: E = Error

• Message class: FARR_FOUNDATION - Revenue Accounting - Foundation

• Message number: 818

• Message text: Account &1 is not valid; early termination acct must be a P/L account

What causes this issue?

Validation of the account for early termination expense of revenue
failed because the determined account is not a profit/loss account.

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?

Check the account configuration under
<DS:SIMG.FI_GL_MD_FS00_DC>Edit G/L Account Centrally</>.

Procedure for System Administrators

Error message extract from SAP system. Copyright SAP SE.

FARR_FOUNDATION818 - Details

• The SAP error message FARR_FOUNDATION818 indicates that the account specified in the transaction is not valid for the operation being performed. Specifically, it states that the early termination account must be a Profit and Loss (P/L) account. This error typically arises in the context of Asset Accounting (FI-AA) when dealing with asset transactions, particularly when terminating an asset early.
  
  Cause:
  
  Account Type: The account specified (denoted as &1 in the error message) is not a P/L account. In SAP, early termination of an asset should be linked to a P/L account to ensure that the financial implications of the termination are correctly reflected in the financial statements.
  
  Configuration Issues: The account may not be properly configured in the system to be used for early termination transactions.
  Incorrect Account Assignment: The account assigned for the early termination may have been incorrectly set up in the asset master data or in the configuration settings.
  
  
  Solution:
  
  
  Check Account Type: