How To Fix H1342 - No FM account assignment defined for cost center &

SAP Error Message - Details

• Message type: E = Error

• Message class: H1 - Messages Used in HR Funds and Position Management

• Message number: 342

• Message text: No FM account assignment defined for cost center &

What causes this issue?

An <DS:GLOS.3526B886AFAB52B9E10000009B38F974>account assignment</> has
not been defined in Funds Management master data for cost center &v1&
in controlling area &v2&.

System Response

No default values proposed for financing.

How to fix this error?

Contact your system administrator.

Procedure for System Administrators

In Funds Management, define a suitable account assignment so that
default values are proposed for automatic financing.
See also: <DS:TX.FPM_0002>Background</>

Error message extract from SAP system. Copyright SAP SE.

Smart SAP Assistant

• What is the cause and solution for SAP error message H1342 - No FM account assignment defined for cost center & ?

  The SAP error message H1342 ("No FM account assignment defined for cost center &") typically occurs in the context of Funds Management (FM) when you are trying to post a transaction that requires a cost center assignment, but the system cannot find a valid account assignment for that cost center.
  Cause:
  
  Missing Configuration: The cost center you are trying to use does not have a corresponding account assignment defined in the Funds Management configuration.
  Inactive Cost Center: The cost center may be inactive or not properly set up in the system.
  Incorrect Posting Period: The posting period may be closed or not open for the cost center.
  Authorization Issues: The user may not have the necessary authorizations to post to the specified cost center.
  
  Solution:
  
  
  Check Cost Center Configuration:
  
  Go to the Funds Management configuration and verify that the cost center has a valid FM account assignment.
  Ensure that the cost center is correctly assigned to the relevant FM area.
  
  
  
  Activate Cost Center:
  
  If the cost center is inactive, you may need to activate it or create a new cost center with the appropriate settings.
  
  
  
  Review Posting Period:
  
  Check the posting period settings to ensure that the period is open for posting transactions related to the cost center.
  
  
  
  Authorization Check:
  
  Verify that the user has the necessary authorizations to post to the cost center. This can be done by checking the user roles and authorizations in the system.
  
  
  
  Consult Documentation:
  
  Review the SAP documentation or consult with your SAP support team for specific configuration steps related to Funds Management and cost center assignments.
  
  
  
  Related Information:
  
  Transaction Codes: You may use transaction codes like KS01 (Create Cost Center), KS02 (Change Cost Center), and KS03 (Display Cost Center) to manage cost centers.
  FM Configuration: The configuration for Funds Management can typically be accessed through the SPRO transaction (SAP Reference IMG).
  Error Logs: Check the error logs or application logs for more detailed information about the error and its context.
  
  If the issue persists after checking the above points, it may be beneficial to engage with your SAP support team or a consultant who specializes in SAP Funds Management for further assistance.