How To Fix FINS_BCF_EN011 - No retained earnings account is defined in chart of account &1.

SAP Error Message - Details

• Message type: E = Error

• Message class: FINS_BCF_EN - Balance Carry Forward

• Message number: 011

• Message text: No retained earnings account is defined in chart of account &1.

Self-Explanatory Message

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Smart SAP Assistant

• What is the cause and solution for SAP error message FINS_BCF_EN011 - No retained earnings account is defined in chart of account &1. ?

  The SAP error message FINS_BCF_EN011 indicates that there is no retained earnings account defined in the specified chart of accounts. This error typically arises during the execution of financial processes, such as closing periods or generating financial statements, where a retained earnings account is required for proper accounting.
  Cause:
  The primary cause of this error is that the system cannot find a retained earnings account associated with the specified chart of accounts. This can happen due to:
  
  Configuration Issues: The retained earnings account has not been set up in the chart of accounts.
  Incorrect Chart of Accounts: The wrong chart of accounts is being referenced in the transaction.
  Missing Master Data: The necessary master data for the retained earnings account is incomplete or missing.
  
  Solution:
  To resolve this error, you can follow these steps:
  
  
  Define Retained Earnings Account:
  
  Go to the SAP transaction code OBY6 (or navigate through the menu: Financial Accounting > General Ledger > Master Data > G/L Account > Create).
  Select the appropriate chart of accounts and create or modify the retained earnings account.
  Ensure that the account is set up as a balance sheet account and is properly categorized.
  
  
  
  Check Configuration:
  
  Ensure that the retained earnings account is correctly assigned in the configuration settings.
  Navigate to SPRO (SAP Reference IMG) and check the settings under:
  
  Financial Accounting (New) > General Ledger Accounting (New) > Master Data > G/L Accounts > Define Retained Earnings Account.
  
  
  Make sure that the account is linked to the correct fiscal year variant.
  
  
  
  Verify Chart of Accounts:
  
  Confirm that the correct chart of accounts is being used in your financial transactions.
  You can check this in the company code settings (transaction code OBY6).
  
  
  
  Test the Configuration:
  
  After making the necessary changes, test the configuration by running the transaction that previously generated the error to ensure that it has been resolved.
  
  
  
  Related Information:
  
  Documentation: Refer to SAP Help documentation for detailed steps on configuring retained earnings accounts.
  Transaction Codes: Familiarize yourself with relevant transaction codes such as:
  
  OBY6: Define Chart of Accounts
  FS00: Create/Change G/L Account
  SPRO: Access the SAP Reference IMG for configuration.
  
  
  Support: If the issue persists after following the above steps, consider reaching out to your SAP support team or consulting SAP Notes for any known issues related to this error.
  
  By ensuring that the retained earnings account is properly defined and configured, you should be able to resolve the error message FINS_BCF_EN011 effectively.