How To Fix GK685 - Reported equity data: Item set does not exist.

SAP Error Message - Details

• Message type: E = Error

• Message class: GK - Messages for SAP Consolidation

• Message number: 685

• Message text: Reported equity data: Item set does not exist.

What causes this issue?

You specified set &V2& as an FS item set when reporting investee equity
data for activity &v1&. This set does not exist.

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 item set &V2& or specify an existing item set for activity &V1&.

Error message extract from SAP system. Copyright SAP SE.

Smart SAP Assistant

• What is the cause and solution for SAP error message GK685 - Reported equity data: Item set does not exist. ?

  The SAP error message GK685, which states "Reported equity data: Item set does not exist," typically occurs in the context of financial reporting, particularly when dealing with equity data in the SAP system. This error indicates that the system is unable to find the specified item set for reported equity data, which can hinder the generation of financial reports or the execution of certain transactions.
  Causes:
  
  Missing Item Set: The item set that is being referenced in the report or transaction does not exist in the system. This could be due to incorrect configuration or data entry.
  Incorrect Configuration: The configuration settings for equity reporting may not be set up correctly, leading to the system not recognizing the item set.
  Data Migration Issues: If data has been migrated from another system or if there have been recent changes to the data structure, the item set may not have been properly transferred or updated.
  Authorization Issues: The user may not have the necessary authorizations to access the item set, leading to the error.
  
  Solutions:
  
  
  Check Item Set Configuration:
  
  Navigate to the relevant configuration settings in SAP (usually found in the Financial Accounting or Controlling modules) and verify that the item set exists and is correctly configured.
  Use transaction codes like OKEQ (for equity item sets) to check the configuration.
  
  
  
  Create or Update Item Set:
  
  If the item set does not exist, you may need to create it. Ensure that all necessary parameters and settings are correctly defined.
  If the item set exists but is not functioning as expected, consider updating or reconfiguring it.
  
  
  
  Review Data Migration:
  
  If the error occurred after a data migration, review the migration process to ensure that all necessary data, including item sets, was correctly transferred.
  Check for any logs or error messages during the migration that might indicate issues.
  
  
  
  Check User Authorizations:
  
  Ensure that the user encountering the error has the appropriate authorizations to access the item set. This may involve checking roles and permissions in the SAP system.
  
  
  
  Consult Documentation:
  
  Refer to SAP documentation or help resources for specific guidance on the error message and related configurations.
  
  
  
  Contact SAP Support:
  
  If the issue persists after checking the above points, consider reaching out to SAP support for further assistance. They may provide insights based on the specific version and configuration of your SAP system.
  
  
  
  Related Information:
  
  Transaction Codes: Familiarize yourself with relevant transaction codes such as OKEQ (for equity item sets) and others related to financial reporting.
  SAP Notes: Check SAP Notes for any known issues or patches related to this error message.
  User Forums: Engage with SAP community forums or user groups where similar issues may have been discussed, providing additional insights or solutions.
  
  By following these steps, you should be able to identify the cause of the GK685 error and implement a suitable solution.