How To Fix KM695 - Account &1 does not exist in chart of accounts &2

SAP Error Message - Details

• Message type: E = Error

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

• Message number: 695

• Message text: Account &1 does not exist in chart of accounts &2

What causes this issue?

You have entered account &V1& in the table of allowed revenue and stock
change accounts in planning.
However, account &V1& does not exist in the chart of accounts &V2& for
controlling area &V3&.

System Response

Processing will terminate.

How to fix this error?

Remove account &V1& from the table of allowed revenue accounts
(<DS:SIMG.SIMG_CFMENUORK18KET1>Maintain Allowed Revenue Accounts</>)
and allowed stock change accounts
(<DS:SIMG.SIMG_CFMENUORK18KET1>Maintain Allowed Stock Change
Accounts</>), or create account &V1&.

Error message extract from SAP system. Copyright SAP SE.

Smart SAP Assistant

• What is the cause and solution for SAP error message KM695 - Account &1 does not exist in chart of accounts &2 ?

  The SAP error message KM695, which states "Account &1 does not exist in chart of accounts &2," typically occurs when you are trying to post a transaction to a general ledger account that is not defined in the specified chart of accounts. Here’s a breakdown of the cause, potential solutions, and related information:
  Cause:
  
  Account Not Created: The account you are trying to use (denoted as &1) has not been created in the specified chart of accounts (denoted as &2).
  Incorrect Chart of Accounts: The transaction may be referencing the wrong chart of accounts, leading to the system not finding the specified account.
  Account Deactivation: The account may have been deactivated or marked for deletion in the system.
  Data Entry Error: There may be a typographical error in the account number or chart of accounts.
  
  Solution:
  
  
  Check Account Existence:
  
  Go to the transaction code FS00 (G/L Account Master Record) and check if the account number exists in the specified chart of accounts.
  If it does not exist, you will need to create it.
  
  
  
  Create the Account:
  
  If the account does not exist, create it using transaction code FS00. Ensure you select the correct chart of accounts when creating the account.
  
  
  
  Verify Chart of Accounts:
  
  Ensure that the correct chart of accounts is being used in your transaction. You can check this in the configuration settings or in the transaction itself.
  
  
  
  Check for Deactivation:
  
  If the account exists but is inactive, you may need to reactivate it or create a new account.
  
  
  
  Review Transaction Data:
  
  Double-check the data you are entering in the transaction to ensure there are no typographical errors in the account number or chart of accounts.
  
  
  
  Consult with Finance Team:
  
  If you are unsure about creating accounts or the implications of doing so, consult with your finance or accounting team for guidance.
  
  
  
  Related Information:
  
  Transaction Codes:
  
  FS00: Create/Change G/L Account Master Data
  OBD4: Define Chart of Accounts
  
  
  Configuration: Ensure that the chart of accounts is properly configured in the system and that all necessary accounts are created as per the business requirements.
  Authorization: Ensure that you have the necessary authorizations to create or modify G/L accounts in SAP.
  
  By following these steps, you should be able to resolve the KM695 error and successfully post your transaction.