How To Fix ICC-KR562 - Business place &1 does not exist for company code &2

SAP Error Message - Details

• Message type: E = Error

• Message class: ICC-KR - Localization (South Korea)

• Message number: 562

• Message text: Business place &1 does not exist for company code &2

Self-Explanatory Message

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Smart SAP Assistant

• What is the cause and solution for SAP error message ICC-KR562 - Business place &1 does not exist for company code &2 ?

  The SAP error message ICC-KR562 indicates that a specific business place does not exist for the specified company code. This error typically arises in the context of financial transactions, particularly when dealing with tax-related processes or when trying to post documents that require a valid business place.
  Cause:
  
  Non-Existent Business Place: The business place you are trying to use in your transaction does not exist in the system for the specified company code.
  Configuration Issues: The business place may not have been properly configured or activated in the system.
  Data Entry Error: There may be a typo or incorrect entry in the business place or company code fields.
  
  Solution:
  
  
  Check Business Place Configuration:
  
  Go to the configuration settings in SAP and verify that the business place is defined for the specified company code.
  You can check this in the following path: 
  
  SPRO ? Financial Accounting ? Accounts Receivable and Accounts Payable ? Business Place ? Define Business Place.
  
  
  Ensure that the business place is active and correctly assigned to the company code.
  
  
  
  Create or Modify Business Place:
  
  If the business place does not exist, you will need to create it. Make sure to assign it to the correct company code.
  If it exists but is not correctly configured, modify the settings as necessary.
  
  
  
  Verify Data Entry:
  
  Double-check the transaction where the error occurred to ensure that the business place and company code are entered correctly.
  Look for any leading or trailing spaces or incorrect characters.
  
  
  
  Consult Documentation:
  
  Review any relevant documentation or user manuals for your specific SAP version to ensure compliance with configuration standards.
  
  
  
  Contact Support:
  
  If you are unable to resolve the issue, consider reaching out to your SAP support team or consulting with an SAP expert for further assistance.
  
  
  
  Related Information:
  
  Business Place: In SAP, a business place is a subdivision of a company code that is used for tax reporting purposes. It is important for compliance with local tax regulations.
  Company Code: This is the smallest organizational unit in financial accounting for which a complete self-contained set of accounts can be drawn up.
  Transaction Codes: Familiarize yourself with relevant transaction codes such as OX15 (for defining business places) and OX02 (for company code settings) to navigate the configuration settings more efficiently.
  
  By following these steps, you should be able to resolve the ICC-KR562 error and ensure that your business place is correctly set up for the specified company code.