How To Fix FINS_BCF_EN012 - Define retained earnings acct for PL Statement Acct Type &1 (ChtAccts &2)

FINS_BCF_EN012 - Overview

• Message type: E = Error

• Message class: FINS_BCF_EN - Balance Carry Forward

• Message number: 012

• Message text: Define retained earnings acct for PL Statement Acct Type &1 (ChtAccts &2)

What causes this issue?

No retained earnings account for P<(>&<)>L Statement Account Type &V1&
defined in chart of account &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?

Define retained earnings account for P<(>&<)>L Statement Account Type
&V1& for chart of account &V2& in Customizing.

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_EN012 - Define retained earnings acct for PL Statement Acct Type &1 (ChtAccts &2) ?

  The SAP error message FINS_BCF_EN012 indicates that there is a configuration issue related to the retained earnings account for the Profit and Loss (PL) statement account type in the SAP system. This error typically arises when the system cannot find a defined retained earnings account for a specific account type.
  
  Cause:
  The error is caused by the absence of a retained earnings account configuration for the specified Profit and Loss statement account type. This can happen due to:
  
  Missing Configuration: The retained earnings account has not been defined in the system for the specified account type.
  Incorrect Account Type: The account type being referenced may not be correctly set up in the system.
  Data Migration Issues: If data has been migrated from another system, the retained earnings account may not have been properly configured.
  
  
  Solution:
  To resolve this error, you need to define the retained earnings account for the specified Profit and Loss statement account type. Here