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

SAP Error Message - Details

• 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.

Smart SAP Assistant

• What is the cause and solution for SAP error message GK695 - Clearing item for elim.of investment income not defined or erroneous ?

  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: 
  
  Go to the configuration settings for financial consolidation and ensure that the clearing items for the elimination of investment income are properly defined.
  Verify the settings in the relevant SAP modules (e.g., FI, CO) to ensure that all necessary parameters are set up correctly.
  
  
  
  Review Master Data:
  
  Check the master data for the involved company codes and entities to ensure that all necessary information is complete and accurate.
  Ensure that the intercompany relationships are correctly defined.
  
  
  
  Validate Data Entries:
  
  Review the financial documents related to the investment income and ensure that all entries are correct and complete.
  Look for any discrepancies or missing entries that could lead to the error.
  
  
  
  Run Consistency Checks:
  
  Use SAP tools to run consistency checks on the financial data to identify any issues that may be causing the error.
  This can help pinpoint specific areas that need correction.
  
  
  
  Consult Documentation:
  
  Refer to SAP documentation or help resources for specific guidance on the error message and related configuration settings.
  
  
  
  Engage SAP Support:
  
  If the issue persists after checking the above areas, consider reaching out to SAP support for further assistance. They may provide insights based on the specific configuration and version of your SAP system.
  
  
  
  Related Information:
  
  Transaction Codes: Familiarize yourself with relevant transaction codes such as OB52 (for fiscal year variant), OKEQ (for controlling area settings), and others that may be relevant to your financial configuration.
  SAP Notes: Check for any SAP Notes related to error GK695, as they may provide specific patches or updates that address known issues.
  User Forums: Engage with SAP user communities or forums where similar issues may have been discussed, providing additional insights or solutions.
  
  By following these steps, you should be able to identify and resolve the cause of the GK695 error in your SAP system.