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

FINS_CO_ICO012 - Overview

• 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.

FINS_CO_ICO012 - Details

• 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