How To Fix FH017 - Open item management only allowed for balance sheet accounts

SAP Error Message - Details

• Message type: E = Error

• Message class: FH - General ledger module messages

• Message number: 017

• Message text: Open item management only allowed for balance sheet accounts

Self-Explanatory Message

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• What is the cause and solution for SAP error message FH017 - Open item management only allowed for balance sheet accounts ?

  The SAP error message FH017, which states "Open item management only allowed for balance sheet accounts," typically occurs when you attempt to configure or use open item management for an account that is not classified as a balance sheet account. Open item management is a feature in SAP that allows for the tracking of open items (transactions that have not yet been cleared) and is generally applicable only to balance sheet accounts (such as asset, liability, and equity accounts).
  Cause:
  
  Account Type: The account you are trying to manage as an open item is likely a profit and loss account (income statement account) rather than a balance sheet account.
  Configuration Settings: The account may not be configured correctly in the SAP system to allow for open item management.
  Account Group Settings: The account group associated with the account may not permit open item management.
  
  Solution:
  
  Check Account Type: Verify that the account in question is indeed a balance sheet account. You can do this by checking the account type in the SAP configuration (transaction code FS00).
  Modify Account Settings: If the account is incorrectly set up, you may need to change its settings:
  
  Go to transaction code FS00.
  Enter the account number and company code.
  Check the "Open Item Management" checkbox. If it is not available, ensure that the account is a balance sheet account.
  
  
  Review Account Group: Check the account group settings to ensure that it allows for open item management. You can do this by going to transaction code OBD4 and reviewing the settings for the relevant account group.
  Consult with Finance Team: If you are unsure about making changes, consult with your finance team or SAP FI consultant to ensure that the changes align with your organization's accounting policies.
  
  Related Information:
  
  Open Item Management: This feature is primarily used for accounts that require reconciliation, such as customer accounts, vendor accounts, and certain types of asset accounts.
  Balance Sheet vs. Profit and Loss Accounts: Understanding the difference between these two types of accounts is crucial. Balance sheet accounts reflect the financial position of the company at a specific point in time, while profit and loss accounts reflect the company's performance over a period.
  SAP Documentation: For more detailed information, refer to SAP's official documentation or help resources related to Financial Accounting (FI) and account management.
  
  By following these steps, you should be able to resolve the FH017 error and ensure that your account management settings are correctly configured.