How To Fix FI_E120 - Closeout rules not defined

SAP Error Message - Details

• Message type: E = Error

• Message class: FI_E - Message Class for FM English Developers

• Message number: 120

• Message text: Closeout rules not defined

Self-Explanatory Message

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Smart SAP Assistant

• What is the cause and solution for SAP error message FI_E120 - Closeout rules not defined ?

  The SAP error message FI_E120 "Closeout rules not defined" typically occurs in the context of financial transactions, particularly when dealing with the closeout of financial documents or accounts. This error indicates that the system is unable to find the necessary closeout rules that dictate how certain financial transactions should be processed or closed.
  Cause:
  
  Missing Configuration: The most common cause of this error is that the closeout rules have not been defined in the system. This could be due to a lack of configuration in the financial settings.
  Incorrect Settings: There may be incorrect or incomplete settings in the financial document types or account types that are supposed to use the closeout rules.
  Version Issues: If there have been recent updates or changes to the SAP system, it is possible that the closeout rules were affected or not migrated properly.
  
  Solution:
  
  
  Define Closeout Rules:
  
  Navigate to the configuration settings in SAP (usually through SPRO).
  Go to the Financial Accounting (FI) section and look for the settings related to closeout rules.
  Define the necessary closeout rules according to your organization's requirements.
  
  
  
  Check Document Types:
  
  Ensure that the document types that are generating the error are correctly configured to use the defined closeout rules.
  Verify that the account types involved in the transactions are also set up to reference the closeout rules.
  
  
  
  Review Authorizations:
  
  Ensure that the user attempting to perform the transaction has the necessary authorizations to access and apply the closeout rules.
  
  
  
  Consult Documentation:
  
  Review SAP documentation or help files related to financial closeout processes to ensure that all necessary steps have been followed.
  
  
  
  Testing:
  
  After making changes, perform a test transaction to ensure that the error has been resolved.
  
  
  
  Related Information:
  
  Transaction Codes: You may need to use transaction codes like SPRO (for configuration), FB50 (for posting), or FBL1N (for vendor line items) to navigate through the relevant settings.
  SAP Notes: Check for any relevant SAP Notes that may address this specific error or provide additional guidance on configuring closeout rules.
  Support: If the issue persists after following the above steps, consider reaching out to SAP support or your internal SAP team for further assistance.
  
  By addressing the configuration of closeout rules and ensuring that all related settings are correctly defined, you should be able to resolve the FI_E120 error.