How To Fix FI305 - G/L account &/& does not exist

SAP Error Message - Details

• Message type: E = Error

• Message class: FI - TR-FM Funds Management

• Message number: 305

• Message text: G/L account &/& does not exist

What causes this issue?

The G/L account does not exist.

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?

Error message extract from SAP system. Copyright SAP SE.

Smart SAP Assistant

• What is the cause and solution for SAP error message FI305 - G/L account &/& does not exist ?

  The SAP error message FI305 indicates that the General Ledger (G/L) account specified in a transaction does not exist in the system. This error typically occurs when trying to post a financial transaction that references a G/L account that has not been created or has been deleted.
  Cause:
  
  Non-Existent G/L Account: The G/L account you are trying to use has not been created in the system.
  Incorrect Account Number: There may be a typo or error in the account number you are entering.
  Account Deactivation: The G/L account may have been deactivated or marked for deletion.
  Chart of Accounts: The G/L account may not be assigned to the chart of accounts being used in the transaction.
  Company Code Issues: The G/L account may not be valid for the specific company code you are working with.
  
  Solution:
  
  Check G/L Account: Verify that the G/L account number you are using is correct. Ensure there are no typos or formatting issues.
  Create G/L Account: If the account does not exist, you may need to create it. This can be done through the transaction code FS00 (G/L Account Master Record).
  Check Account Status: If the account exists but is inactive, you may need to reactivate it or create a new account.
  Verify Chart of Accounts: Ensure that the G/L account is assigned to the correct chart of accounts for your company code.
  Company Code Assignment: Check if the G/L account is assigned to the correct company code. You can do this in the G/L account master data.
  Consult with Finance Team: If you are unsure about creating or modifying G/L accounts, consult with your finance or accounting team to ensure compliance with internal policies.
  
  Related Information:
  
  Transaction Codes:
  
  FS00: Create/Change G/L Account Master Data
  FS01: Create G/L Account
  FS02: Change G/L Account
  FS03: Display G/L Account
  
  
  Authorization: Ensure you have the necessary authorizations to create or modify G/L accounts.
  Documentation: Refer to your organization's financial policies and procedures for guidance on G/L account management.
  SAP Notes: Check SAP Notes for any known issues or updates related to G/L account management.
  
  By following these steps, you should be able to resolve the FI305 error and successfully post your financial transactions.