How To Fix IF120 - Balancing object &1 cannot be canceled

SAP Error Message - Details

• Message type: E = Error

• Message class: IF - Messages re interest accounting in PS/CO/IM

• Message number: 120

• Message text: Balancing object &1 cannot be canceled

What causes this issue?

Balancing object &V1& cannot be canceled.
This may be due to a cancelation after the hierarchy has changed.
Note:
If this is the case, make sure you make cancelations in the correct
sequence.

System Response

Cancelation run stopped.

How to fix this error?

The system issues an error message and will not allow you to continue with this transaction until the error is resolved.

Error message extract from SAP system. Copyright SAP SE.

Smart SAP Assistant

• What is the cause and solution for SAP error message IF120 - Balancing object &1 cannot be canceled ?

  The SAP error message IF120, which states "Balancing object &1 cannot be canceled," typically occurs in the context of financial transactions, particularly when dealing with balancing objects such as cost centers, internal orders, or other financial entities that require balancing entries.
  
  Cause:
  The error message IF120 can arise due to several reasons:
  
  
  Incorrect Status: The balancing object (e.g., cost center, internal order) may be in a status that does not allow for cancellation. For example, it might be locked or closed for posting.
  
  
  Posting Period: The posting period for the transaction may be closed, preventing any further changes or cancellations.
  
  
  Dependencies: There may be dependencies or linked transactions that prevent the cancellation of the balancing object.
  
  
  Authorization Issues: The user may not have the necessary authorizations to perform the cancellation on the specified balancing object.
  
  
  Data Integrity: There may be data integrity issues or inconsistencies in the financial records that prevent the cancellation.
  
  
  
  Solution:
  To resolve the IF120 error,