How To Fix GZ471 - Totals item for appropriations of retained earnings not specified

SAP Error Message - Details

• Message type: E = Error

• Message class: GZ - Message class for FI-LC

• Message number: 471

• Message text: Totals item for appropriations of retained earnings not specified

Self-Explanatory Message

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Smart SAP Assistant

• What is the cause and solution for SAP error message GZ471 - Totals item for appropriations of retained earnings not specified ?

  The SAP error message GZ471, which states "Totals item for appropriations of retained earnings not specified," typically occurs in the context of financial accounting, particularly when dealing with retained earnings and the closing of financial periods. This error indicates that the system is unable to find a specified totals item for the appropriations of retained earnings in the financial statement.
  Cause:
  
  Missing Configuration: The error often arises when the configuration for retained earnings accounts is incomplete or incorrect. This can happen if the totals item for retained earnings has not been defined in the system.
  Incorrect Account Assignment: If the account assignment for the retained earnings is not properly set up in the chart of accounts or if the account is not linked to the correct financial statement version, this error may occur.
  Period Closing Issues: If the financial period is not properly closed or if there are inconsistencies in the closing entries, it can lead to this error.
  
  Solution:
  
  
  Check Configuration:
  
  Go to the configuration settings in SAP (Transaction Code: SPRO).
  Navigate to Financial Accounting (FI) > General Ledger Accounting > Period-End Closing > Closing Operations > Define Retained Earnings Account.
  Ensure that the totals item for appropriations of retained earnings is correctly specified.
  
  
  
  Verify Account Assignment:
  
  Check the chart of accounts to ensure that the retained earnings account is correctly defined and linked to the appropriate financial statement version.
  Use Transaction Code: OB58 to review the account assignments.
  
  
  
  Review Financial Statement Version:
  
  Ensure that the financial statement version used for reporting includes the necessary totals items for retained earnings.
  You can check this in the configuration under Financial Accounting > Financial Statements > Define Financial Statement Versions.
  
  
  
  Check for Open Items:
  
  Ensure that there are no open items in the accounts that should be closed. Use Transaction Code: FBL3N to review the account balances.
  
  
  
  Run Closing Programs:
  
  If the above checks do not resolve the issue, try running the closing programs again to ensure that all entries are processed correctly. Use Transaction Code: F.01 for financial statement preparation.
  
  
  
  Consult Documentation:
  
  Review SAP documentation or consult with your SAP support team for any specific notes or updates related to this error.
  
  
  
  Related Information:
  
  Transaction Codes: SPRO, OB58, FBL3N, F.01
  SAP Notes: Check SAP Notes for any known issues or patches related to this error message.
  User Roles: Ensure that the user has the necessary permissions to access and modify financial accounting settings.
  
  If the problem persists after following these steps, it may be beneficial to consult with an SAP FI consultant or your internal SAP support team for further assistance.