How To Fix FC281 - Enter a valid account type

SAP Error Message - Details

• Message type: E = Error

• Message class: FC - FI configuration error messages

• Message number: 281

• Message text: Enter a valid account type

What causes this issue?

As no fiscal year variant has yet been allocated to the company code in
question, you cannot maintain any posting periods for this company code.

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?

Go to the Financial Accounting Configuration menu and allocate a fiscal
year variant to the company code via the menu path <LS>Environment ->
Company code -> Global parameters</>.

Error message extract from SAP system. Copyright SAP SE.

Smart SAP Assistant

• What is the cause and solution for SAP error message FC281 - Enter a valid account type ?

  The SAP error message FC281 "Enter a valid account type" typically occurs in the context of financial transactions, particularly when dealing with account assignments in SAP. This error indicates that the system requires a valid account type to be specified, but the input provided does not meet the criteria.
  Cause:
  
  Invalid Account Type: The account type entered does not exist in the system or is not recognized by SAP.
  Missing Configuration: The account type may not be configured properly in the system settings.
  Incorrect Transaction Type: The transaction being processed may not support the account type being used.
  User Input Error: There may be a typographical error or incorrect selection made by the user.
  
  Solution:
  
  
  Check Account Type: Verify that the account type you are trying to enter is valid. Common account types include:
  
  Asset (A)
  Liability (L)
  Equity (E)
  Revenue (R)
  Expense (X)
  
  
  
  Review Configuration: Ensure that the account type is properly configured in the system. This can be done by checking the configuration settings in the Financial Accounting (FI) module.
  
  
  Correct Transaction Type: Make sure that the transaction you are processing is compatible with the account type you are trying to use.
  
  
  User Training: If the error is due to user input, consider providing additional training or documentation to help users understand the valid account types and how to select them correctly.
  
  
  Consult Documentation: Refer to SAP documentation or help files for specific details on valid account types and their usage.
  
  
  Contact Support: If the issue persists after checking the above points, consider reaching out to your SAP support team or consulting with an SAP expert for further assistance.
  
  
  Related Information:
  
  Transaction Codes: Familiarize yourself with relevant transaction codes in SAP that may relate to financial postings, such as FB50 (General Ledger Account Document Entry) or F-02 (General Posting).
  SAP Notes: Check SAP Notes for any known issues or patches related to this error message.
  User Roles and Authorizations: Ensure that the user has the necessary roles and authorizations to perform the transaction involving the specified account type.
  
  By following these steps, you should be able to resolve the FC281 error and successfully complete your financial transactions in SAP.