How To Fix KM572 - No master data exists for account &1 in company code &2

SAP Error Message - Details

• Message type: E = Error

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

• Message number: 572

• Message text: No master data exists for account &1 in company code &2

What causes this issue?

Account &V1& does not exist either as a G/L account in company code
&V2& or as a revenue/cost element in the chart of accounts &V4& of
controlling area &V3&.

System Response

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

How to fix this error?

Create account &V1& as a G/L account in company code &V2& or as a
revenue/cost element in the chart of accounts &V4& for controlling area
&V3&.

Error message extract from SAP system. Copyright SAP SE.

Smart SAP Assistant

• What is the cause and solution for SAP error message KM572 - No master data exists for account &1 in company code &2 ?

  The SAP error message KM572 indicates that there is no master data available for a specific account in a given company code. This typically occurs in the context of controlling (CO) or financial accounting (FI) when trying to post a transaction that requires master data for a cost element or internal order.
  Cause:
  
  Missing Master Data: The primary cause of this error is that the master data for the specified account (cost element, internal order, etc.) has not been created or is not active in the specified company code.
  Incorrect Account or Company Code: The account number or company code specified in the transaction may be incorrect or not properly configured.
  Data Migration Issues: If data was migrated from another system, there may have been issues that resulted in missing master data.
  Authorization Issues: Sometimes, the user may not have the necessary authorizations to view or access the master data.
  
  Solution:
  
  
  Create or Activate Master Data:
  
  Navigate to the relevant transaction to create or activate the master data for the account in the specified company code. For example, if it’s a cost element, you can use transaction code KA01 (Create Primary Cost Element) or KA06 (Create Secondary Cost Element).
  Ensure that the account is set up correctly for the company code in question.
  
  
  
  Check Configuration:
  
  Verify that the account is correctly configured in the system. This includes checking the account type, validity, and whether it is assigned to the correct company code.
  
  
  
  Review Transaction Data:
  
  Double-check the transaction data you are trying to post. Ensure that the account number and company code are entered correctly.
  
  
  
  Authorization Check:
  
  Ensure that the user has the necessary authorizations to access the master data. This can be checked with the help of your SAP security team.
  
  
  
  Consult Documentation:
  
  Review SAP documentation or consult with your SAP support team for any specific configurations or settings that may be required for your organization.
  
  
  
  Related Information:
  
  Transaction Codes: 
  
  KA01: Create Primary Cost Element
  KA06: Create Secondary Cost Element
  KAH1: Create Cost Center
  KSB1: Display Cost Center Line Items
  
  
  SAP Notes: Check SAP Notes for any known issues or patches related to this error message.
  Master Data Management: Ensure that your organization has a process in place for maintaining and updating master data to prevent such issues in the future.
  
  By following these steps, you should be able to resolve the KM572 error and ensure that the necessary master data is in place for your transactions.