How To Fix KM560 - Account & in company code & is not a profit and loss account

SAP Error Message - Details

• Message type: E = Error

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

• Message number: 560

• Message text: Account & in company code & is not a profit and loss account

Self-Explanatory Message

Since SAP believes that this specific error message is 'self-explanatory,' no more information has been given.The majority of messages in the SAP system have a message text, however this is frequently insufficient to comprehend or resolve the problem.

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Smart SAP Assistant

• What is the cause and solution for SAP error message KM560 - Account & in company code & is not a profit and loss account ?

  The SAP error message KM560 indicates that the account specified in the transaction is not a profit and loss (P&L) account, which is required for certain types of postings, particularly in the context of cost accounting or internal orders. This error typically arises when you attempt to post costs or revenues to an account that is classified as a balance sheet account rather than a P&L account.
  Cause:
  
  Account Type: The account you are trying to use is set up as a balance sheet account in the chart of accounts, rather than a profit and loss account.
  Configuration Issues: The account may not be properly configured in the system to allow for the type of posting you are attempting.
  Posting Type: The transaction you are trying to execute requires a P&L account, but the account specified does not meet this requirement.
  
  Solution:
  
  
  Check Account Configuration:
  
  Go to the account master data in SAP (transaction code FS00).
  Verify that the account in question is set up as a profit and loss account. You can check the account type in the "Control Data" tab.
  If it is a balance sheet account, you may need to create a new P&L account or change the existing account type if appropriate.
  
  
  
  Use the Correct Account:
  
  Ensure that you are using the correct account for the type of transaction you are processing. If you need to post to a P&L account, select an account that is designated as such.
  
  
  
  Consult with Finance Team:
  
  If you are unsure about the account classification or need to make changes, consult with your finance or accounting team to ensure compliance with accounting standards and practices.
  
  
  
  Transaction Type:
  
  Review the transaction type you are using. Some transactions are specifically designed for P&L accounts, and using a balance sheet account will result in this error.
  
  
  
  Related Information:
  
  Account Types in SAP: In SAP, accounts are classified into different types, such as balance sheet accounts and profit and loss accounts. Understanding these classifications is crucial for proper financial reporting.
  Chart of Accounts: Each company code in SAP has its own chart of accounts, which defines the structure of financial accounts. Ensure that the account you are using is part of the correct chart of accounts for your company code.
  SAP Documentation: Refer to SAP Help documentation for detailed information on account types and configuration settings.
  
  By following these steps, you should be able to resolve the KM560 error and ensure that your postings are made to the appropriate accounts.