How To Fix FINS_CO_ICO012 - G/L acct. &1 is not a costs or revenue account

SAP Error Message - Details

• Message type: E = Error

• Message class: FINS_CO_ICO - Intercompany processes

• Message number: 012

• Message text: G/L acct. &1 is not a costs or revenue account

What causes this issue?

The account &V1& is not a costs or revenue account and can therefore not
be used to post an intercompany margin.

System Response

When you try to post an intercompany margin with this account, the
system will issue an error.

How to fix this error?

Choose a different account with type 'Primary Costs or Revenue' or
'Secondary costs'.

Procedure for System Administrators

The system issues an error message and will not allow you to continue with this transaction until the error is resolved.

Error message extract from SAP system. Copyright SAP SE.

Smart SAP Assistant

• What is the cause and solution for SAP error message FINS_CO_ICO012 - G/L acct. &1 is not a costs or revenue account ?

  The SAP error message FINS_CO_ICO012 indicates that the General Ledger (G/L) account specified in the error message is not classified as a cost or revenue account. This typically occurs when you are trying to post a transaction that requires the use of a cost or revenue account, but the account you are using does not meet the necessary criteria.
  Cause:
  
  Account Type: The G/L account you are trying to use is not set up as a cost or revenue account in the system. It may be classified as a balance sheet account or another type that is not suitable for the transaction you are attempting to perform.
  Configuration Issues: The account may not be properly configured in the chart of accounts or may not have the correct account type assigned.
  Transaction Type: The transaction you are trying to execute (e.g., internal order, cost center posting) specifically requires a cost or revenue account, and the account you selected does not fulfill this requirement.
  
  Solution:
  
  
  Check Account Configuration:
  
  Go to the G/L account master data in SAP (Transaction Code: FS00).
  Verify the account type and ensure that it is set as a cost or revenue account. The account should be classified under the appropriate account group that allows it to be used for cost or revenue postings.
  
  
  
  Change Account Type:
  
  If the account is incorrectly classified, you may need to change its type. This can typically be done by editing the account master data, but be cautious as this may have implications for financial reporting and other transactions.
  
  
  
  Use the Correct Account:
  
  If the account cannot be changed or is not appropriate for the transaction, you should select a different G/L account that is designated as a cost or revenue account.
  
  
  
  Consult with Finance Team:
  
  If you are unsure about which accounts to use or how to change the configuration, consult with your finance or accounting team. They can provide guidance on the appropriate accounts to use for your specific transactions.
  
  
  
  Related Information:
  
  Account Types in SAP: Familiarize yourself with the different types of accounts in SAP, such as balance sheet accounts, income statement accounts, cost accounts, and revenue accounts.
  Transaction Codes: Common transaction codes related to G/L account management include:
  
  FS00: Create/Change G/L Account Master Data
  OBD4: Define Account Groups
  OBY6: Define G/L Account Types
  
  
  Documentation: Review SAP documentation or help files for more detailed information on account types and their configurations.
  
  By following these steps, you should be able to resolve the error and successfully post your transaction.