How To Fix GK695 - Clearing item for elim.of investment income not defined or erroneous

GK695 - Overview

• Message type: E = Error

• Message class: GK - Messages for SAP Consolidation

• Message number: 695

• Message text: Clearing item for elim.of investment income not defined or erroneous

What causes this issue?

You need to specify a clearing item for the elimination of investment
income for each document type. This item must be identical for all
document types for the elimination of investment income (in the same
dimension and chart of accounts).

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?

Maintain the chart of accounts-dependent parameters of docment types
for the elimination of investment income. In each case, specify the
same clearing item.

Error message extract from SAP system. Copyright SAP SE.

GK695 - Details

• The SAP error message GK695, which states "Clearing item for elimination of investment income not defined or erroneous," typically occurs in the context of financial consolidation processes, particularly when dealing with intercompany transactions and the elimination of investment income.
  
  Cause:
  
  Missing Configuration: The error often arises when the system cannot find a defined clearing item for the elimination of investment income. This can happen if the necessary configuration settings in the SAP system are not set up correctly.
  Incorrect Data Entry: There may be incorrect or incomplete data entries in the relevant financial documents or master data that prevent the system from processing the elimination correctly.
  Inconsistent Settings: The settings for intercompany transactions or investment income elimination may not be consistent across the involved entities or company codes.
  Missing or Incorrect Master Data: The master data for the involved entities may be incomplete or incorrect, leading to issues during the elimination process.
  
  
  Solution:
  
  
  Check Configuration: 
  
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