How To Fix FKK_IFRS9005 - Accounting Principle &1 is not maintained in Acct. Principle Cust.

FKK_IFRS9005 - Overview

• Message type: E = Error

• Message class: FKK_IFRS9 - FICA: IFRS9 Messages

• Message number: 005

• Message text: Accounting Principle &1 is not maintained in Acct. Principle Cust.

Self-Explanatory Message

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To make things easier, more detailed information is frequently added to describe the issue, how to fix it, and the necessary steps or configuration modifications.

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FKK_IFRS9005 - Details

• The SAP error message FKK_IFRS9005 indicates that the accounting principle specified (denoted as &1 in the message) is not maintained in the account principle customization settings. This typically occurs in the context of Financial Accounting (FI) and Contract Accounts Receivable and Payable (FI-CA) when dealing with International Financial Reporting Standards (IFRS).
  
  Cause:
  The error arises when:
  
  An accounting principle is referenced in a transaction or configuration that has not been defined in the system.
  The accounting principle is not properly set up in the customizing settings for the relevant company code or area.
  There may be a mismatch between the accounting principles used in the transaction and those configured in the system.
  
  
  Solution:
  To resolve this error, follow these steps:
  
  
  Check Accounting Principles Configuration:
  
  Go to the SAP Customizing Implementation Guide (SPRO).
  Navigate to Financial Accounting (New) > Contract Accounts Receivable and Payable > Basic Functions > Define Accounting Principles.
  Ensure that the accounting principle indicated in the error message is