How To Fix GI266 - An alternat.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: 266

• Message text: An alternat.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 GI266 - An alternat.acct no.is not specified for ret.earnings acct & in ch/acct & ?

  The SAP error message GI266 indicates that there is an issue with the configuration of the account settings related to retained earnings in the system. Specifically, it suggests that an alternative account number has not been specified for the retained earnings account in the chart of accounts.
  Cause:
  This error typically arises due to one of the following reasons:
  
  Missing Configuration: The alternative account for retained earnings has not been defined in the system.
  Incorrect Account Assignment: The account assigned for retained earnings may not have an alternative account specified in the chart of accounts.
  Chart of Accounts Settings: The settings in the chart of accounts may not be properly configured to handle alternative accounts.
  
  Solution:
  To resolve this error, you can follow these steps:
  
  
  Check Account Configuration:
  
  Go to the transaction code OBY6 (or navigate through the menu: Financial Accounting > General Ledger > Master Records > G/L Accounts > Individual Processing > Change).
  Look for the retained earnings account in the relevant chart of accounts.
  Ensure that an alternative account is specified for the retained earnings account.
  
  
  
  Define Alternative Account:
  
  If the alternative account is not defined, you will need to specify it. This can be done in the same configuration area where you found the retained earnings account.
  Enter the appropriate alternative account number that should be used for retained earnings.
  
  
  
  Review Chart of Accounts:
  
  Ensure that the chart of accounts is correctly set up to include all necessary accounts and their alternative counterparts.
  Check if there are any other related accounts that might also require alternative account settings.
  
  
  
  Test the Configuration:
  
  After making the necessary changes, perform a test transaction that previously triggered the error to ensure that the issue has been resolved.
  
  
  
  Related Information:
  
  Transaction Codes: Familiarize yourself with relevant transaction codes such as OBY6 (for G/L account settings) and OBA7 (for alternative accounts).
  Documentation: Refer to SAP documentation or help files for detailed guidance on configuring G/L accounts and alternative accounts.
  User Roles: Ensure that you have the necessary permissions to make changes to account settings in SAP.
  Consult with SAP Support: If the issue persists after following the above steps, consider reaching out to SAP support or your internal SAP team for further assistance.
  
  By following these steps, you should be able to resolve the GI266 error and ensure that your retained earnings account is properly configured.