How To Fix GLO_FIAA_JP_ANNEX16024 - Only one accounting principle allowed for Annex 16

SAP Error Message - Details

• Message type: E = Error

• Message class: GLO_FIAA_JP_ANNEX16 - FIAA G11N Japan - Annex16

• Message number: 024

• Message text: Only one accounting principle allowed for Annex 16

Self-Explanatory Message

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Smart SAP Assistant

• What is the cause and solution for SAP error message GLO_FIAA_JP_ANNEX16024 - Only one accounting principle allowed for Annex 16 ?

  The SAP error message GLO_FIAA_JP_ANNEX16024 indicates that there is an issue with the accounting principles being used in the context of Japan's Annex 16 reporting requirements. This error typically arises when multiple accounting principles are assigned to a single entity or reporting scenario, which is not permitted under the regulations governing Annex 16.
  Cause:
  
  Multiple Accounting Principles: The primary cause of this error is that the system has detected more than one accounting principle assigned to the same entity or reporting scenario. Annex 16 requires that only one accounting principle be used for reporting purposes.
  Configuration Issues: There may be a misconfiguration in the settings related to the accounting principles in the SAP system.
  Data Entry Errors: Incorrect data entry during the setup of accounting principles or during the transaction processing can lead to this error.
  
  Solution:
  
  Review Accounting Principles: Check the accounting principles assigned to the relevant company code or entity. Ensure that only one accounting principle is active for the reporting period in question.
  Adjust Configuration: If multiple accounting principles are configured, you may need to adjust the settings in the SAP system to ensure compliance with Annex 16. This may involve:
  
  Navigating to the configuration settings for financial accounting.
  Ensuring that only one accounting principle is selected for the relevant reporting entity.
  
  
  Data Correction: If the error is due to incorrect data entry, correct the entries in the relevant master data or transaction data.
  Consult Documentation: Refer to SAP documentation or guidelines specific to Annex 16 reporting to ensure that all configurations align with regulatory requirements.
  Testing: After making changes, perform a test run to ensure that the error does not reoccur and that the reporting can be completed successfully.
  
  Related Information:
  
  SAP Notes: Check for any relevant SAP Notes that may address this specific error or provide additional guidance on configuring accounting principles for Annex 16.
  Regulatory Compliance: Familiarize yourself with the regulatory requirements for Annex 16 reporting in Japan to ensure that your configurations meet all necessary standards.
  SAP Community: Engage with the SAP Community forums for insights from other users who may have encountered and resolved similar issues.
  
  If the problem persists after following these steps, it may be beneficial to consult with an SAP expert or your internal IT support team for further assistance.