How To Fix FINS_ACDOC_POST007 - Acc. principle &1 not assigned to ledger &2 for company code &3

SAP Error Message - Details

• Message type: E = Error

• Message class: FINS_ACDOC_POST - FIN UDoc posting: Message from posting

• Message number: 007

• Message text: Acc. principle &1 not assigned to ledger &2 for company code &3

What causes this issue?

You are trying to post a journal entry for ledger group &V4& and
accounting principle &V1& in company code &V3&.

System Response

The ledger group &V4& contains ledger &V2&.
The posting is not possible because in the customizing of the ledger
settings you did not assign the accounting principle to the company code
for ledger &V2&.

How to fix this error?

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

Procedure for System Administrators

Error message extract from SAP system. Copyright SAP SE.

Smart SAP Assistant

• What is the cause and solution for SAP error message FINS_ACDOC_POST007 - Acc. principle &1 not assigned to ledger &2 for company code &3 ?

  The SAP error message FINS_ACDOC_POST007 indicates that there is an issue with the assignment of an accounting principle to a ledger for a specific company code. This error typically arises during the posting of financial documents when the system cannot find a valid assignment of the accounting principle to the specified ledger.
  Cause:
  
  Missing Assignment: The accounting principle (e.g., IFRS, GAAP) is not assigned to the ledger in the configuration settings.
  Incorrect Configuration: The ledger may not be properly configured to use the specified accounting principle.
  Company Code Settings: The company code may not have the necessary settings to support the accounting principle and ledger combination.
  Data Migration Issues: If data was migrated from another system, the necessary assignments may not have been carried over correctly.
  
  Solution:
  To resolve the error, follow these steps:
  
  
  Check Ledger Configuration:
  
  Go to the SAP Customizing Implementation Guide (SPRO).
  Navigate to Financial Accounting (New) > General Ledger Accounting (New) > Ledger > Define Ledgers.
  Ensure that the accounting principle is assigned to the ledger in question.
  
  
  
  Assign Accounting Principle:
  
  If the accounting principle is not assigned, you can assign it by editing the ledger settings.
  Make sure that the accounting principle is compatible with the ledger.
  
  
  
  Verify Company Code Settings:
  
  Check the company code settings to ensure that it is configured to use the correct ledger and accounting principle.
  Navigate to Financial Accounting (New) > General Ledger Accounting (New) > Master Data > G/L Accounts > Prepare G/L Account Creation and verify the settings.
  
  
  
  Check for Data Migration Issues:
  
  If this issue arose after a data migration, review the migration process to ensure that all necessary configurations and assignments were correctly transferred.
  
  
  
  Consult Documentation:
  
  Review SAP documentation or notes related to the specific error message for any additional guidance or updates.
  
  
  
  Testing:
  
  After making the necessary changes, perform a test posting to ensure that the error has been resolved.
  
  
  
  Related Information:
  
  Transaction Codes: You may use transaction codes like OB22 (for defining ledgers) and OBY6 (for company code settings) to access the relevant configuration areas.
  SAP Notes: Check SAP Notes for any known issues or patches related to this error message.
  User Roles: Ensure that you have the necessary authorizations to make changes to the configuration settings.
  
  If the issue persists after following these steps, it may be beneficial to consult with your SAP support team or a functional consultant who specializes in Financial Accounting.