How To Fix FINS_RECON701 - &1: Balance in CO line item differs by &2 (transact. currency &3)

SAP Error Message - Details

• Message type: E = Error

• Message class: FINS_RECON - SAP S/4HANA Finance Migration: Reconciliation

• Message number: 701

• Message text: &1: Balance in CO line item differs by &2 (transact. currency &3)

Self-Explanatory Message

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Smart SAP Assistant

• What is the cause and solution for SAP error message FINS_RECON701 - &1: Balance in CO line item differs by &2 (transact. currency &3) ?

  The SAP error message FINS_RECON701 indicates that there is a discrepancy in the balance of a CO (Controlling) line item. This error typically arises during the reconciliation process between Financial Accounting (FI) and Controlling (CO) modules, where the balances in the CO line items do not match the expected values.
  Cause:
  
  Data Entry Errors: Incorrect postings in either the FI or CO module can lead to mismatched balances.
  Currency Differences: If transactions are recorded in different currencies, conversion issues may cause discrepancies.
  Missing or Incorrect Allocations: If cost allocations or assessments are not properly executed, it can lead to imbalances.
  Timing Differences: Transactions recorded in different periods can also lead to temporary discrepancies.
  Manual Adjustments: Manual adjustments in either module that are not reflected in the other can cause mismatches.
  
  Solution:
  
  Check Transaction Details: Review the specific transactions that are causing the discrepancy. Look for any data entry errors or missing postings.
  Currency Conversion: Ensure that currency conversion is correctly applied. Check the exchange rates used for the transactions.
  Reconcile Balances: Use the reconciliation tools in SAP to compare the balances in FI and CO. Identify any transactions that are missing or incorrectly posted.
  Review Allocations: Ensure that all cost allocations and assessments are correctly executed and that they match the expected values.
  Adjust Periods: If timing differences are identified, ensure that transactions are recorded in the correct periods.
  Consult Documentation: Refer to SAP documentation or help resources for specific guidance on resolving this error.
  
  Related Information:
  
  Transaction Codes: You may use transaction codes like KSB1 (Cost Centers: Actual Line Items) or FBL3N (G/L Account Line Items) to analyze the line items in CO and FI.
  SAP Notes: Check SAP Notes for any known issues or patches related to this error message.
  User Authorization: Ensure that you have the necessary authorizations to view and correct the relevant transactions.
  Consult with SAP Support: If the issue persists, consider reaching out to SAP support for further assistance.
  
  By following these steps, you should be able to identify and resolve the cause of the FINS_RECON701 error message.