How To Fix GC301 - Contra item & is not defined

SAP Error Message - Details

• Message type: E = Error

• Message class: GC - Error Messages for Consolidation/Extended General Ledger

• Message number: 301

• Message text: Contra item & is not defined

What causes this issue?

The contra item &V1& for financial statement item &V2& is not defined.

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?

Create the FS item &V1& or assign an existing contra item to FS item
&V2&.

Error message extract from SAP system. Copyright SAP SE.

Smart SAP Assistant

• What is the cause and solution for SAP error message GC301 - Contra item & is not defined ?

  The SAP error message GC301, which states "Contra item & is not defined," typically occurs in the context of financial transactions, particularly when dealing with General Ledger (G/L) accounts or when posting journal entries. This error indicates that the system cannot find a corresponding contra account for the specified item in the transaction.
  Cause:
  
  Missing Configuration: The contra account may not be defined in the system for the specific transaction type or posting.
  Incorrect Account Assignment: The account being used in the transaction may not be set up correctly in the configuration settings.
  Posting Key Issues: The posting key used in the transaction may not be compatible with the account type or may not have a defined contra account.
  Account Type Mismatch: The account type being used may not have a defined contra account in the configuration.
  
  Solution:
  
  
  Check Account Configuration:
  
  Go to the configuration settings in SAP (Transaction Code: SPRO).
  Navigate to Financial Accounting (FI) > General Ledger Accounting > Master Data > G/L Accounts > Prepare G/L Accounts.
  Ensure that the contra account is defined for the G/L account you are trying to use.
  
  
  
  Review Posting Keys:
  
  Check the posting keys being used in the transaction (Transaction Code: OB41).
  Ensure that the posting key is correctly configured to allow for the type of transaction you are attempting.
  
  
  
  Define Contra Accounts:
  
  If the contra account is missing, you may need to define it in the system. This can be done in the same configuration area where you check the G/L accounts.
  
  
  
  Consult Documentation:
  
  Review SAP documentation or help files related to G/L account configuration and contra accounts for additional guidance.
  
  
  
  Testing:
  
  After making the necessary changes, try to post the transaction again to see if the error persists.
  
  
  
  Related Information:
  
  
  Transaction Codes: Familiarize yourself with relevant transaction codes such as:
  
  OB52: To check and maintain posting periods.
  FS00: To create or change G/L accounts.
  FB50: To post a general ledger document.
  
  
  
  SAP Notes: Check SAP Notes for any known issues or patches related to this error message.
  
  
  User Roles and Authorizations: Ensure that the user has the necessary authorizations to perform the actions related to G/L account postings.
  
  
  If the issue persists after following these steps, it may be beneficial to consult with your SAP support team or a functional consultant who specializes in financial accounting within SAP.