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

FINS_CNTACT010 - Overview

• 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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FINS_CNTACT010 - Details

• 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