How To Fix KM664 - You have only selected profit and loss accounts which cannot be entered

SAP Error Message - Details

• Message type: E = Error

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

• Message number: 664

• Message text: You have only selected profit and loss accounts which cannot be entered

What causes this issue?

For the characteristic "Account" you have only selected profit and loss
accounts or revenue/cost elements. Consequently, there are no accounts
for which you can enter values.

System Response

The function was terminated.

How to fix this error?

Select at least one account in which you can plan balance sheet
balances. This can be any account defined as a balance sheet account in
the chart of accounts.

Error message extract from SAP system. Copyright SAP SE.

Smart SAP Assistant

• What is the cause and solution for SAP error message KM664 - You have only selected profit and loss accounts which cannot be entered ?

  The SAP error message KM664, which states "You have only selected profit and loss accounts which cannot be entered," typically occurs in the context of financial transactions, particularly when dealing with account postings in the SAP system. This error indicates that the accounts you are trying to use for a transaction are classified as profit and loss (P&L) accounts, which are not suitable for the type of entry you are attempting to make.
  Cause:
  
  Account Type: The accounts selected for the transaction are profit and loss accounts. In SAP, P&L accounts are used to record revenues and expenses, and they cannot be used for certain types of postings, such as asset acquisitions or balance sheet entries.
  Transaction Type: The transaction you are trying to perform may require the use of balance sheet accounts (assets or liabilities) instead of P&L accounts.
  Configuration Issues: There may be configuration settings in the SAP system that restrict the use of certain accounts for specific types of transactions.
  
  Solution:
  
  Check Account Selection: Review the accounts you have selected for the transaction. Ensure that you are using the appropriate account types. If you need to post to an asset or liability, select the corresponding balance sheet accounts instead of P&L accounts.
  Transaction Type Review: Verify the type of transaction you are attempting to perform. If it requires balance sheet accounts, make sure to adjust your entries accordingly.
  Consult with Finance Team: If you are unsure about which accounts to use, consult with your finance or accounting team to ensure compliance with accounting principles and internal policies.
  Configuration Review: If you believe the configuration may be incorrect, work with your SAP administrator or consultant to review the account settings and ensure they are set up correctly for the intended transactions.
  
  Related Information:
  
  SAP Documentation: Refer to SAP's official documentation for more details on account types and their usage in financial transactions.
  Transaction Codes: Familiarize yourself with relevant transaction codes (e.g., FB50 for general ledger postings) and their requirements regarding account types.
  Training: Consider training sessions or resources on SAP financial accounting to better understand how to manage accounts and transactions effectively.
  
  By addressing the account selection and ensuring that you are using the correct types of accounts for your transactions, you should be able to resolve the KM664 error.