How To Fix GI264 - A corporate acct no.is not specified for ret.earnings acct & in ch/acct &

SAP Error Message - Details

• Message type: E = Error

• Message class: GI - FI-SL update

• Message number: 264

• Message text: A corporate acct no.is not specified for ret.earnings acct & in ch/acct &

Self-Explanatory Message

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Smart SAP Assistant

• What is the cause and solution for SAP error message GI264 - A corporate acct no.is not specified for ret.earnings acct & in ch/acct & ?

  The SAP error message GI264 indicates that there is a missing corporate account number for the retained earnings account and the chart of accounts. This error typically arises during the posting of financial transactions, particularly when dealing with year-end closing processes or when trying to post to retained earnings.
  Cause:
  
  Missing Configuration: The corporate account number for the retained earnings account has not been specified in the system configuration.
  Incorrect Chart of Accounts: The chart of accounts being used does not have the necessary settings for the retained earnings account.
  Account Assignment Issues: The account assignment for the retained earnings account may not be correctly set up in the financial accounting module.
  
  Solution:
  To resolve the GI264 error, follow these steps:
  
  
  Check Configuration:
  
  Go to the transaction code OBY6 (or navigate through the menu: SPRO > Financial Accounting > General Ledger > Master Data > G/L Accounts > Prepare G/L Account Creation).
  Ensure that the retained earnings account is properly configured with a corporate account number.
  
  
  
  Define Retained Earnings Account:
  
  In the same configuration area, check if the retained earnings account is defined for the relevant company code and chart of accounts.
  If it is not defined, you will need to create or assign a retained earnings account.
  
  
  
  Assign Corporate Account:
  
  Ensure that the corporate account number is assigned to the retained earnings account in the chart of accounts.
  You can do this by going to the transaction code FS00 to edit the G/L account and check the settings.
  
  
  
  Check Chart of Accounts:
  
  Verify that the chart of accounts being used is correctly set up and that it includes the necessary accounts for retained earnings.
  
  
  
  Test Posting:
  
  After making the necessary changes, try to post the transaction again to see if the error persists.
  
  
  
  Related Information:
  
  Transaction Codes:
  
  OBY6: Configuration for company code settings.
  FS00: G/L account master data maintenance.
  
  
  Documentation: Refer to SAP Help documentation for detailed steps on configuring retained earnings accounts and corporate account settings.
  Support: If the issue persists after checking the configuration, consider reaching out to your SAP support team or consulting with an SAP FI (Financial Accounting) expert.
  
  By following these steps, you should be able to resolve the GI264 error and ensure that your retained earnings account is properly configured in SAP.