How To Fix FINS_BCF_EN010 - Create the retained earnings account &1 in company code &2.

SAP Error Message - Details

• Message type: E = Error

• Message class: FINS_BCF_EN - Balance Carry Forward

• Message number: 010

• Message text: Create the retained earnings account &1 in company code &2.

What causes this issue?

Retained earnings account &V1& not created in company code &V2&.

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?

Create the retained earnings account &V1& in company code &V2&.

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_BCF_EN010 - Create the retained earnings account &1 in company code &2. ?

  The SAP error message FINS_BCF_EN010 indicates that the system is unable to find a retained earnings account for a specific company code. This typically occurs during the year-end closing process or when trying to execute financial statements that require a retained earnings account.
  Cause:
  The error is caused by the absence of a retained earnings account in the specified company code. This account is necessary for the proper functioning of financial reporting and closing processes, as it is used to carry forward the net income or loss from the previous fiscal year.
  Solution:
  To resolve this error, you need to create the retained earnings account in the specified company code. Here are the steps to do this:
  
  
  Access the SAP GUI: Log in to your SAP system.
  
  
  Navigate to the Account Creation Screen:
  
  Use transaction code OBY6 (or navigate through the menu: Financial Accounting > General Ledger > Master Records > G/L Account > Create).
  
  
  
  Create the Retained Earnings Account:
  
  Enter the company code for which you want to create the retained earnings account.
  Specify the account number (if you have a specific number in mind) or let the system assign one.
  Choose the account type (usually "Balance Sheet Account").
  Fill in the necessary details, such as account name, account group, and other relevant information.
  Ensure that the account is set up as a retained earnings account by selecting the appropriate settings in the account control section.
  
  
  
  Save the Account: After entering all required information, save the new account.
  
  
  Check Configuration: Ensure that the account is properly configured in the chart of accounts and is linked to the correct financial statement version.
  
  
  Run the Year-End Closing Process Again: After creating the account, try running the year-end closing process or the financial statement report again to see if the error persists.
  
  
  Related Information:
  
  Account Type: The retained earnings account is typically classified as a balance sheet account and is used to reflect the accumulated profits or losses of the company.
  Company Code: Ensure that you are creating the account in the correct company code, as each company code can have its own set of accounts.
  Authorization: Make sure you have the necessary authorizations to create G/L accounts in the SAP system.
  Consult Documentation: If you are unsure about the account settings, consult your organization's financial accounting documentation or SAP help resources for guidance on setting up retained earnings accounts.
  
  If the issue persists after following these steps, it may be beneficial to consult with your SAP support team or a financial consultant familiar with SAP configurations.