How To Fix FMFG050 - &3- Footnote is required for account group &1 account &2

SAP Error Message - Details

• Message type: E = Error

• Message class: FMFG - U.S. Federal Government Message Class

• Message number: 050

• Message text: &3- Footnote is required for account group &1 account &2

What causes this issue?

Treasury Account Symbol Failed Edit 11 - Footnotes
This edit:
Checks for negative balances in 2108 columns and certain key US SGL
accounts
Requires footnote explanation in the footnote file (table fmfgf2foot)
This edit parallels Edit 11 as performed by Treasury when processing
FACTS II data for fourth quarter reporting.

System Response

Error message issued.

How to fix this error?

Review message to determine its cause and handle as follows:
Footnote required
Create a footnote using the Maintain Footnotes program
Posting in system was incorrect
Post correcting transaction. Rerun Extract and Edit programs.
Attribute derivation for FACTS II was incorrectly defined
Change derivation rules, then rerun derivations, extract, and edit
programs.
Errors because of missing MAF file data
Either upload correct MAF file, maintain existing MAF file, or ignore.

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 FMFG050 - &3- Footnote is required for account group &1 account &2 ?

  The SAP error message FMFG050 indicates that a footnote is required for a specific account in a particular account group. This error typically arises in the context of Financial Management (FM) in SAP, particularly when dealing with budgetary accounts or funds management.
  Cause:
  The error occurs when:
  
  Footnote Requirement: The account group specified in the error message has been configured to require a footnote for certain accounts. This is often a regulatory or compliance requirement.
  Missing Footnote: The specific account (account &2) does not have an associated footnote, which is mandatory for processing transactions related to that account.
  
  Solution:
  To resolve the FMFG050 error, you can take the following steps:
  
  
  Check Account Configuration:
  
  Go to the account group configuration in the SAP system and verify if the footnote requirement is indeed set for the account group &1.
  If the requirement is not necessary, you may consider changing the configuration to make footnotes optional.
  
  
  
  Add Footnote:
  
  If the footnote is required, you need to add a footnote for the specified account. This can typically be done in the account master data.
  Navigate to the relevant transaction (e.g., transaction code FMX1 for creating a budget account) and enter the necessary footnote information.
  
  
  
  Review Documentation:
  
  Ensure that you have the correct documentation or guidelines regarding footnote requirements for your organization or regulatory body.
  
  
  
  Consult with Finance Team:
  
  If you are unsure about the footnote content or the necessity of the requirement, consult with your finance or compliance team for guidance.
  
  
  
  Related Information:
  
  Transaction Codes: Familiarize yourself with relevant transaction codes such as:
  
  FMX1: Create Budget Account
  FMX2: Change Budget Account
  FMX3: Display Budget Account
  
  
  SAP Notes: Check for any SAP Notes related to this error message for additional insights or patches that may address the issue.
  Documentation: Review SAP documentation or help files related to Funds Management and account group settings for more detailed information on footnote requirements.
  
  By following these steps, you should be able to resolve the FMFG050 error and ensure that the necessary footnotes are in place for compliance and reporting purposes.