How To Fix GK689 - Reported equity data: Item is either not defined or erroneous

SAP Error Message - Details

• Message type: E = Error

• Message class: GK - Messages for SAP Consolidation

• Message number: 689

• Message text: Reported equity data: Item is either not defined or erroneous

What causes this issue?

At least one of the subitems which you specified in subitem set &V2&
when reporting investee equity data for activity &V1& is not
defined, or is incorrectly defined. Either:
an item specified as a single value is not defined, or
the breakdown category assigned to an item which is defined as a
single value or contained in a range 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?

Check:
whether the items specified as single values in set &V2& exist, and
whether the breakdown categories for the items contained in set &V2&
exist.

Error message extract from SAP system. Copyright SAP SE.

Smart SAP Assistant

• What is the cause and solution for SAP error message GK689 - Reported equity data: Item is either not defined or erroneous ?

  The SAP error message GK689, which states "Reported equity data: Item is either not defined or erroneous," typically occurs in the context of financial reporting, particularly when dealing with equity data in the SAP system. This error can arise due to several reasons, and understanding the cause is essential for finding an appropriate solution.
  Causes:
  
  
  Undefined Equity Item: The equity item being referenced in the report may not be defined in the system. This could happen if the item was not set up correctly in the configuration or if it has been deleted or deactivated.
  
  
  Incorrect Configuration: There may be issues with the configuration settings related to equity reporting. This includes missing or incorrect settings in the financial statement version or the chart of accounts.
  
  
  Data Entry Errors: There could be errors in the data entry process, such as typos or incorrect account assignments that lead to the system not recognizing the equity item.
  
  
  Missing Authorizations: Sometimes, the user may not have the necessary authorizations to access or view certain equity items, leading to this error.
  
  
  Inconsistent Data: If there are inconsistencies in the data, such as mismatched periods or incorrect balances, the system may flag the equity item as erroneous.
  
  
  Solutions:
  
  
  Check Item Definition: Verify that the equity item in question is defined in the system. You can do this by checking the configuration settings in the relevant modules (e.g., Financial Accounting).
  
  
  Review Configuration Settings: Ensure that the financial statement version and chart of accounts are correctly configured. Make sure that all necessary equity items are included and properly set up.
  
  
  Correct Data Entry: Review the entries related to the equity item for any errors. Ensure that all data is entered correctly and that the account assignments are accurate.
  
  
  Authorization Check: Confirm that the user has the necessary authorizations to access the equity data. If not, work with your SAP security team to obtain the required permissions.
  
  
  Data Consistency Check: Run consistency checks on the financial data to identify any discrepancies. This may involve reconciling balances and ensuring that all entries are posted correctly.
  
  
  Consult Documentation: Refer to SAP documentation or help resources for specific guidance related to the error message and the context in which it occurs.
  
  
  Related Information:
  
  Transaction Codes: Familiarize yourself with relevant transaction codes such as OB58 (for financial statement versions) and FS00 (for account master data) to check configurations.
  SAP Notes: Check SAP Notes for any known issues or patches related to this error message. SAP frequently updates its knowledge base with solutions to common problems.
  Support: If the issue persists after trying the above solutions, consider reaching out to SAP support or your internal SAP support team for further assistance.
  
  By systematically addressing the potential causes, you can resolve the GK689 error and ensure that your equity reporting is accurate and complete.