How To Fix FINS_CNTACT010 - Serious configuration error. Two group ledgers IFRS and USGP not possible

SAP Error Message - Details

• Message type: E = Error

• Message class: FINS_CNTACT - Message Accounting Principle Violation

• Message number: 010

• Message text: Serious configuration error. Two group ledgers IFRS and USGP not possible

Self-Explanatory Message

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Smart SAP Assistant

• What is the cause and solution for SAP error message FINS_CNTACT010 - Serious configuration error. Two group ledgers IFRS and USGP not possible ?

  The SAP error message FINS_CNTACT010 indicates a serious configuration issue related to the use of two group ledgers, specifically IFRS (International Financial Reporting Standards) and USGAAP (United States Generally Accepted Accounting Principles). This error typically arises when there is a conflict in the configuration settings for the ledgers in the system.
  Cause:
  
  
  Configuration Conflict: The error usually occurs when the system is configured to use both IFRS and USGAAP ledgers, but there are inconsistencies or conflicts in the settings. This could be due to:
  
  Incorrect or incomplete configuration of the ledgers.
  Missing or incorrect assignment of the ledgers to the company code.
  Incompatibility in the settings for the two ledgers, such as different fiscal year variants or chart of accounts.
  
  
  
  Ledger Assignment: The company code may not be properly assigned to both ledgers, or there may be issues with the way the ledgers are defined in the system.
  
  
  Data Consistency: There may be inconsistencies in the data that prevent the system from processing transactions correctly across both ledgers.
  
  
  Solution:
  To resolve the error, you can follow these steps:
  
  
  Check Ledger Configuration:
  
  Go to the configuration settings in SAP (Transaction Code: SPRO).
  Navigate to Financial Accounting (New) > General Ledger Accounting (New) > Ledger > Define Ledgers.
  Ensure that both IFRS and USGAAP ledgers are correctly defined and configured.
  
  
  
  Verify Company Code Assignment:
  
  Ensure that both ledgers are assigned to the relevant company code.
  Check the assignment under Financial Accounting (New) > General Ledger Accounting (New) > Ledger > Assign Company Code to Ledger.
  
  
  
  Check Fiscal Year Variants:
  
  Ensure that both ledgers are using compatible fiscal year variants.
  Navigate to Financial Accounting (New) > General Ledger Accounting (New) > Fiscal Year > Define Fiscal Year Variants.
  
  
  
  Review Chart of Accounts:
  
  Ensure that both ledgers are using the same chart of accounts or that they are compatible.
  Check under Financial Accounting (New) > General Ledger Accounting (New) > Chart of Accounts > Define Chart of Accounts.
  
  
  
  Data Consistency Check:
  
  Run consistency checks to ensure that there are no data inconsistencies that could be causing the issue.
  
  
  
  Consult Documentation:
  
  Review SAP documentation or notes related to the error message for any specific guidance or updates.
  
  
  
  Contact SAP Support:
  
  If the issue persists after checking the configurations, consider reaching out to SAP support for further assistance.
  
  
  
  Related Information:
  
  Transaction Codes: Familiarize yourself with relevant transaction codes such as SPRO (Customizing), OB22 (Define Company Code), and OBA7 (Define Fiscal Year Variant).
  SAP Notes: Search for SAP Notes related to FINS_CNTACT010 for any patches or updates that may address the issue.
  Testing: After making changes, perform thorough testing to ensure that transactions can be processed correctly in both ledgers without errors.
  
  By following these steps, you should be able to identify and resolve the configuration error related to the IFRS and USGAAP ledgers in your SAP system.