How To Fix FCO_SFIN080 - Profile &2: Target account &1 has no cost element category '01'

FCO_SFIN080 - Overview

• Message type: E = Error

• Message class: FCO_SFIN - FI-CO Simplified Financials

• Message number: 080

• Message text: Profile &2: Target account &1 has no cost element category '01'

What causes this issue?

Target accounts used for splitting must be assigned to cost element
category '01' (Primary cost/cost-reducing revenues). The target account
&V1& is not assigned to cost element category '01'. Saving not possible.

The system issues an error message and will not allow you to continue with this transaction until the error is resolved.

System Response

How to fix this error?

Replace target account &V1& for profile &V2& by a correct account
assigned to cost element category '01'.

Procedure for System Administrators

Error message extract from SAP system. Copyright SAP SE.

FCO_SFIN080 - Details

• The SAP error message FCO_SFIN080 indicates that there is an issue with the configuration of the target account in the context of financial postings. Specifically, the error states that the target account (denoted as &1) does not have the cost element category '01' assigned to it. This typically occurs when trying to post a financial transaction that requires a cost element, but the account in question is not set up correctly to handle such postings.
  
  Cause:
  
  Account Configuration: The target account is not configured as a cost element in the system. Cost element category '01' is typically used for primary cost elements, which are necessary for posting costs directly to the profit and loss statement.
  Posting Type: The type of posting being attempted (e.g., expense, revenue) requires a cost element, but the account does not meet the necessary criteria.
  Master Data Issues: The account master data may not be set up correctly, or it