How To Fix KM491 - Account &1 is not a balance sheet account

SAP Error Message - Details

• Message type: E = Error

• Message class: KM - Error messages for Profit Center Accounting

• Message number: 491

• Message text: Account &1 is not a balance sheet account

What causes this issue?

You have entered account &V1& in the table for valid stock change
accounts, either explicitly or within an interval.

System Response

You cannot save the account or corresponding interval here.

How to fix this error?

Remove account &V1& from the table of allowed
<DS:SIMG.SIMG_CFMENUORK18KET2>stock change accounts</>.

Error message extract from SAP system. Copyright SAP SE.

Smart SAP Assistant

• What is the cause and solution for SAP error message KM491 - Account &1 is not a balance sheet account ?

  The SAP error message KM491 indicates that the account specified (represented by &1) is not a balance sheet account. This error typically arises in the context of financial transactions or postings where the system expects a balance sheet account but receives a different type of account, such as a profit and loss (P&L) account.
  Cause:
  
  Incorrect Account Type: The account you are trying to use is classified as a profit and loss account instead of a balance sheet account.
  Configuration Issues: The account may not be properly configured in the system, or it may not be set up as a balance sheet account in the chart of accounts.
  Posting Logic: The transaction you are attempting to execute requires a balance sheet account, but the account you selected does not meet this requirement.
  
  Solution:
  
  
  Check Account Type: Verify the account type in the SAP system. You can do this by navigating to the account master data and checking the account's configuration. Ensure that the account is set up as a balance sheet account.
  
  Transaction Code: FS00 (to display or change the account master data).
  
  
  
  Use the Correct Account: If the account is indeed a P&L account, you will need to select a different account that is classified as a balance sheet account for the transaction you are trying to perform.
  
  
  Review Transaction Type: Ensure that the transaction you are trying to execute is appropriate for the account type you are using. For example, if you are trying to post a journal entry that requires a balance sheet account, make sure you are using the correct account.
  
  
  Consult with Finance Team: If you are unsure about which account to use or how to configure accounts, consult with your finance or accounting team to ensure compliance with accounting standards and practices.
  
  
  Related Information:
  
  Account Types in SAP: In SAP, accounts are classified into different types, such as balance sheet accounts (assets, liabilities, equity) and profit and loss accounts (revenues, expenses). Understanding these classifications is crucial for proper financial reporting.
  Chart of Accounts: The chart of accounts defines the structure of financial accounts in SAP. Ensure that the account in question is included in the correct chart of accounts and is configured properly.
  Transaction Codes: Familiarize yourself with relevant transaction codes for account management, such as:
  
  FS00: Create/Change/Display G/L Account Master Data
  OBD4: Define Account Groups
  OBD2: Define G/L Account Master Data
  
  
  
  By following these steps, you should be able to resolve the KM491 error and ensure that you are using the correct accounts for your financial transactions in SAP.