How To Fix FINS_IC_CUST021 - Rounding diff acct &1 is defined as reconciliation acct for CoCode &2

SAP Error Message - Details

• Message type: E = Error

• Message class: FINS_IC_CUST - Manage Currencies: Customizing

• Message number: 021

• Message text: Rounding diff acct &1 is defined as reconciliation acct for CoCode &2

What causes this issue?

To post rounding differences, you must define special accounts for these
rounding differences in the project configuration.
A rounding difference account, such as &V1& that is used for company
code &V2& and chart of accounts &V3&, must fulfill the following
requirements:
The GL account type must be <LS>Nonoperating Expense or Income</>
(Attribute <AB>SKA1-GLACCOUNT_TYPE = 'N'</>).
The account currency must be equal to the local currency of the company
code
(Attribute <AB>SKB1-WAERS = T001-WAERS</>)
Posting to a rounding difference account with taxes isn't mandatory
(Attribute <AB>SKB1-XMWNO </>is initial).
A rounding difference account is not open-item-managed
(Attribute <AB>SKB1-XOPVW </>is initial).
Rounding difference account must not be defined as to <LS>Post
automatically only</>
(Attribute <AB>SKB1-XINTB </>is initial).
A rounding difference account must not be defined as a reconciliation
account
(Attribute <AB>SKB1-MITKZ </>is empty).
For rounding difference accounts, the balances must be managed in the
local currency only
(Attribute <AB>SKB1-XSALH = 'X'</>)

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?

In the project configuration, ensure that the accounts used for rounding
differences comply with the requirements described above.

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_IC_CUST021 - Rounding diff acct &1 is defined as reconciliation acct for CoCode &2 ?

  The SAP error message FINS_IC_CUST021 indicates that there is a rounding difference account defined as a reconciliation account for a specific company code. This error typically arises in the context of intercompany transactions, where rounding differences can occur due to currency conversions or other calculations.
  Cause:
  
  Rounding Differences: When transactions are processed, especially in different currencies, rounding differences may arise. If these differences are not properly accounted for, it can lead to discrepancies in financial reporting.
  Reconciliation Account Configuration: The error suggests that the rounding difference account is set up as a reconciliation account for the specified company code. This can lead to issues if the account is not intended to handle such differences or if it is not properly configured.
  
  Solution:
  
  
  Check Account Configuration:
  
  Go to the configuration settings for the reconciliation account in question. Ensure that the rounding difference account is correctly set up and is appropriate for handling rounding differences.
  Verify that the account is not mistakenly set as a reconciliation account if it should not be.
  
  
  
  Adjust Rounding Difference Handling:
  
  If the rounding difference account is indeed required, ensure that it is properly configured to handle such differences. This may involve adjusting settings in the financial accounting module.
  You may need to create a specific account for rounding differences if one does not already exist.
  
  
  
  Review Intercompany Settings:
  
  Check the intercompany settings in your SAP system. Ensure that the settings for handling currency conversions and rounding differences are correctly configured.
  Review the intercompany transaction processes to ensure that they are set up to handle rounding differences appropriately.
  
  
  
  Consult Documentation:
  
  Refer to SAP documentation or help resources for specific guidance on handling rounding differences and reconciliation accounts. This can provide insights into best practices and configuration settings.
  
  
  
  Testing:
  
  After making any changes, conduct tests to ensure that the error no longer occurs and that transactions are processed correctly without rounding issues.
  
  
  
  Related Information:
  
  Transaction Codes: You may need to use transaction codes such as OBYC (for account determination) or FS00 (for account master data) to review and adjust account settings.
  SAP Notes: Check for any relevant SAP Notes that may address this specific error or provide additional guidance on handling rounding differences in intercompany transactions.
  Support: If the issue persists, consider reaching out to SAP support or your internal SAP team for further assistance.
  
  By following these steps, you should be able to resolve the FINS_IC_CUST021 error and ensure that your intercompany transactions are processed correctly without rounding discrepancies.