How To Fix ICC-KR714 - Negative postings are currently not permitted for company code &

SAP Error Message - Details

• Message type: E = Error

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

• Message number: 714

• Message text: Negative postings are currently not permitted for company code &

Self-Explanatory Message

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Smart SAP Assistant

• What is the cause and solution for SAP error message ICC-KR714 - Negative postings are currently not permitted for company code & ?

  The SAP error message ICC-KR714 indicates that negative postings are not allowed for a specific company code in the system. This error typically arises when a user attempts to post a transaction that would result in a negative balance for an account that is configured to disallow such postings.
  Cause:
  
  Configuration Settings: The company code may be configured to prevent negative postings. This is often a setting in the financial accounting module (FI) that restricts certain accounts from having negative balances.
  Account Type: The account type being used in the transaction may not allow negative postings. For example, certain asset or expense accounts may be set up to prevent negative balances.
  Posting Period: The posting period may be closed, and the system does not allow adjustments that would lead to negative balances in that period.
  
  Solution:
  
  
  Check Configuration: 
  
  Go to the configuration settings for the company code in the SAP system. You can check the settings under Financial Accounting (FI) > General Ledger Accounting > Master Data > G/L Account > Prepare G/L Account Creation. Ensure that the account settings allow for negative postings if that is appropriate for your business process.
  
  
  
  Review Account Settings:
  
  Check the specific G/L account being used in the transaction. Ensure that it is set up correctly to allow negative postings if necessary. This can be done by navigating to the G/L account master data and reviewing the settings.
  
  
  
  Adjust Posting Period:
  
  If the error is related to a closed posting period, consider opening the period if it is appropriate to do so. This can be done in the transaction code OB52 (Maintain Posting Periods).
  
  
  
  Consult with Finance Team:
  
  If you are unsure about changing configurations or account settings, consult with your finance team or SAP administrator to ensure that any changes align with your organization's accounting policies.
  
  
  
  Use Alternative Posting Methods:
  
  If negative postings are not allowed for a specific account, consider using alternative methods to achieve the desired financial outcome, such as creating a separate adjustment entry or using a different account that allows negative postings.
  
  
  
  Related Information:
  
  Transaction Codes: Familiarize yourself with relevant transaction codes such as FS00 (G/L Account Master Data), OB52 (Maintain Posting Periods), and FB50 (General Ledger Account Document Entry).
  SAP Notes: Check SAP Notes for any specific guidance or updates related to this error message. SAP Notes can provide insights into known issues and recommended solutions.
  Documentation: Review SAP documentation related to financial accounting and general ledger settings for more detailed information on account configurations and posting rules.
  
  By following these steps, you should be able to identify the cause of the ICC-KR714 error and implement a suitable solution.